Roche Holding Ltd · SIX:RO
Roche — HY 2025 Earnings Presentation
187 slides from Roche's earnings presentation, Jul 24, 2025
Slide 1: Roche
Slide 2: Forward-looking statements
This presentation contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes’, ‘expects’, ‘anticipates’, ‘projects’, ‘intends’, ‘should’, ‘seeks’, ‘estimates’, ‘future’ or similar expressions or by discussion of, among other things, str
Slide 3: Roche HY 2025 results
Roche HY 2025 results Basel, 24 July 2025
Slide 4: Group
Group Thomas Schinecker Chief Executive Officer
Slide 5: Performance Outlook
Performance Outlook
Slide 6: HY 2025: Strong financial performance
HY 2025: Strong financial performance HY results all at CER ▪ Group sales growth +7%, +10% Pharma and 0% for Diagnostics (due to China healthcare pricing reforms) ▪ Strong bottom line performance with Core OP +11% and Core OP margin +1.1%p; Core EPS +12% ▪ Full year LOE impact expectation lowered to
Slide 7: HY 2025: Strong Pharma sales driving Group growth
HY 2025: Strong Pharma sales driving Group growth Diagnostics impacted by healthcare pricing reforms in China HY 2025 HY 2024 Change in % CHFbn CHFbn CHF CER Pharmaceuticals Division 24.0 22.6 6 10 Diagnostics Division 7.0 7.2 -3 0 Roche Group 30.9 29.8 4 7 Totals & sub-totals may include difference
Slide 8: HY 2025: Consistent strong growth in the last five quarters
HY 2025: Consistent strong growth in the last five quarters Diagnostics impacted by healthcare pricing reforms in China; impact expected to ease towards year-end Group sales growth %CER +15% China Diagnostics healthcare pricing reforms +10% +9% +9% +9% +9% +8% +6% +5% +2% +1% +2% +1% 0% COVID-19 pan
Slide 9: Key growth drivers of the Roche portfolio
Key growth drivers of the Roche portfolio All therapeutic areas delivering strong growth; Diagnostics impacted by healthcare pricing reforms in China Diagnostics: Molecular Lab and HY 2025 sales Pathology Lab with strong growth; Core 0% (CHFbn, YoY CER growth) Lab impacted by China healthcare pricin
Slide 10: Young portfolio to drive growth in the near- to mid-term
Young portfolio to drive growth in the near- to mid-term 3 key pivotal NME readouts remaining in 2025 CHFbn % of Pharma Sales2 59% 14.0 55% 12.0 50% 10.0 41% 8.0 1 6.0 4.0 2.0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.0 HY 2022 HY 2023 HY 2024 HY 2025 Pivotal NME readouts Cotellic Ale
Slide 11: Performance Outlook
Performance Outlook
Slide 12: Roche Diagnostics Day highlights
Roche Diagnostics Day highlights Key innovative solutions across our customer areas AXELIOS NGS solution Accu-Chek® SmartGuide cobas® i601 Mass Spec VENTANA® TROP2 RxDx1 Molecular Lab Near Patient Care Core Lab Pathology Lab ▪ New data demonstrate high ▪ 14 day real-time glucose ▪ First fully integr
Slide 13: 2025 Pharma pipeline: Q2 newsflow
2025 Pharma pipeline: Q2 newsflow New Molecular Entities (NME) giredestrant fenebrutinib vamikibart HR+ BC RMS, PPMS DME, UME Itovebi Elevidys1 CT-388 Pi3Km BC DMD Obesity +/- T2D divarasib Emugrobart (GYM 329) CT-868 KRAS+ NSCLC, CRC SMA, FSHD, obesity T1D with BMI ≥25 ▪ 7+ NMEs with CHF >3bn peak
Slide 14: Ph III Go decisions taken so far in 2025
Ph III Go decisions taken so far in 2025 4 Ph III Go-decisions so far, including prasinezumab in PD and NXT007 in Hemophilia A NXT007 in Trontinemab Prasinezumab Zosurabalpin Hemophilia A in Alzheimer’s disease in Parkinson’s disease in MDR bacterial infections Oncology/Hematology Neurology Neurolog
Slide 15: R&D Excellence: Pipeline evolution
R&D Excellence: Pipeline evolution Growing share of potential best in disease assets and increasing peak sales for pipeline projects Share of late-stage projects with BID potential1 Average peak sales per pipeline project, CHFbn2 +55% +9%p 1.3 Total 0.8 portfolio value 67% +26% 58% YE 2023 HY 2025 Y
Slide 16: R&D Excellence: Resource reallocation
R&D Excellence: Resource reallocation CHF ~1bn spend reallocated to transformative programs and productivity initiatives Reallocation of the R&D budget in 2024+20251 (CHFm) Reinvestment into the portfolio 1,050 1,050 ▪ Increased the number of high value assets 610 ▪ Fast tracked key assets, includin
Slide 17: 2025 guidance
2025 guidance LOE impact of CHF 1.0bn (CER, updated from CHF 1.2bn) expected for 2025 Group sales growth1 Mid single digit sales growth Core EPS growth1 High single digit Core EPS growth Dividend outlook Further increase dividend in Swiss francs 1. At CER: Constant exchange rates (avg. full year 202
Slide 18: Finance
Finance Alan Hippe Chief Financial Officer
Slide 19: Results, Cash & balance sheet, Currency guidance & outlook
Results Cash & balance sheet Currency guidance & outlook
Slide 20: HY 2025: Group performance
HY 2025: Group performance Sales increase of +7% and core EPS increase of +12% 2025 2024 Change in % CHFm CHFm CHF CER Sales 30,944 29,848 +4 +7 Core operating profit 12,010 11,293 +6 +11 as % of sales 38.8 37.8 Core net income 9,319 8,651 +8 +13 as % of sales 30.1 29.0 Core EPS (in CHF) 11.08 10.23
Slide 21: HY 2025: Group sales growth at +7%
HY 2025: Group sales growth at +7% Pharma driving growth; Diagnostics stable, growth impacted by healthcare pricing reforms in China +7% at CER CHFm +2,492 -347 -1,071 +348 -326 30,944 29,848 HY 2024 YTD PY China dia ex. Cn Dia biz dia base Pharma Pharma Underlying LOE LOE sales Fx Fx HY 2025 YTD CY
Slide 22: HY 2025: Group core operating profit
HY 2025: Group core operating profit Core operating profit higher by +11% driven by higher sales and effective cost management 2025 2025 vs. 2024 CHFm Abs. CERm CER growth Sales 30,944 +2,166 7% Other revenue 905 +15 2% Cost of sales -7,562 -588 8% Sales volume: +12% R&D -6,074 +66 -1% SG&A -6,508 -
Slide 23: HY 2025: Core operating profit and margin
HY 2025: Core operating profit and margin % of sales 50.4% 52.2% 37.8% 38.8% +1.7%p¹ +1.1%p¹ 22.0% +13%¹ 18.0% CHFm +11%¹ 12,522 -3.2%p¹ 12,010 11,293 11,409 -14%¹ 2024 2025 1,583 1,250 Roche Group Pharma Division Diagnostics Division Note: Group core operating profit includes -1.8bn from Corporate
Slide 24: HY 2025: Core net financial result
HY 2025: Core net financial result Improvement mainly driven by lower losses from net foreign exchange results (Other) CHFm ▪ Net financial result improved by +84m / -10% at CER ▪ Interest expenses1 stable at CER -729 -838 +161 0 +20 -72 HY 2024 Equity Net interest Interest Other HY 2025 securities
Slide 25: HY 2025: Core tax rate
HY 2025: Core tax rate Tax rate stable compared to HY 2024 17.3% +0.1%p 17.4% 19.0% Effective tax rate Effective tax rate HY 2024 HY 2025 25
Slide 26: HY 2025: Core EPS
HY 2025: Core EPS Increase in operations partially offset by lower gains on product disposals +12.1% + 14.4%p + 0.1%p + 0.5%p 11.56 - 2.5%p - 0.4%p 10.31 HY 2024 Operations1 Product disposals Financial Effective tax All other effects HY 2025 & disposal of income/expense rate change subsidiaries All
Slide 27: HY 2025: Non-core and IFRS income
HY 2025: Non-core and IFRS income Non-core items down vs. PY mainly due to lower impairment of intangible assets 2025 2024 Var. at Change in % CHFm CHFm CERm CHF CER Core operating profit 12,010 11,293 +1,195 +6 +11 Global restructuring plans -1,023 -762 -278 Amortisation of intangible assets -348 -
Slide 28: Results, Cash & balance sheet, Currency guidance & outlook
Results Cash & balance sheet Currency guidance & outlook
Slide 29: HY 2025: Group operating free cash flow
HY 2025: Group operating free cash flow OFCF down by -20% mainly driven by investments in IA (including the Zealand Pharma collaboration) CHFm +1,039 -1,421 -38 -1,194 -195 7,923 OFCF down by -20%/-1,614m at CER 6,309 6,114 HY 2024 OP, net of cash NWC Investments Investments HY 2025 Foreign HY 2025
Slide 30: HY 2025: Operating free cash flow and margin
HY 2025: Operating free cash flow and margin % of sales 42.6% 35.6% 27.0% 19.8% -7.1%p¹ -7.0%p¹ 6.8% -3.3% CHFm -9.3%p¹ -9%¹ 9,647 8,533 8,053 -20%¹ 6,114 2024 2025 491 -¹ -232 Roche Group Pharma Division Diagnostics Division Note: Group operating free cash flow includes -2.2bn from Corporate (-2.1b
Slide 31: HY 2025: Group net debt development
HY 2025: Group net debt development Net debt higher by CHF 3.7bn vs. YE 2024 CHFbn Free cash flow CHF +3.3 -17.3 Dividends paid -7.9 -21.0 Trans. own eq. inst. -0.5 -2.8 M&A & all. trans. -0.9 Curr. transl. & oth. +2.4 +6.1 Taxes -2.2 Treasury -0.6 -6.9 Net debt Operating Non-operating Dividends, M&
Slide 32: Balance sheet 30 June 2025
Balance sheet 30 June 2025 Equity ratio at 35% (31 Dec 2024: 36%, 30 Jun 2024: 34%) % change in CER % change in CER CHFbn vs. 31 Dec 2024 vs. 31 Dec 2024 101.8 0% 101.8 0% Cash and 94.8 94.8 marketable 17.3 -28% securities 12.0 Current 27.0 17% 13% 27% 27.6 +9% liabilities Other 22.7 29% 23.7 +11% c
Slide 33: Results, Cash & balance sheet, Currency guidance & outlook
Results Cash & balance sheet Currency guidance & outlook
Slide 34: Exchange rate impact on sales growth
Exchange rate impact on sales growth Negative impact mainly driven by the USD, EUR and CNY (APAC) -0.3%p -0.5%p -1.5%p CER -0.8%p CHF 0.0%p sales growth sales growth 2025 +7.3% 2025 vs. -0.5%p vs. 2024 2024 +3.7% CER EUR APAC USD LATAM JPY Other CHF CER: Constant exchange rates (avg. full year 2024)
Slide 35: Expected 2025 currency impact
Expected 2025 currency impact USD / CHF Assumed avg. YTD 2025 +3% -3% -4% -6% Assuming the 30 June 2025 exchange rates remain stable 0.90 0.89 until end of 2025, 0.88 0.88 2025 impact1 is expected to be (%p): 0.87 0.86 0.84 0.83 Q1 Q2 Q3 Q4 0.91 0.90 0.88 0.84 0.83 0.82 0.80 0.80 0.80 0.80 0.80 0.80
Slide 36: 2025 guidance
2025 guidance LOE impact of CHF 1.0bn (CER, updated from CHF 1.2bn) expected for 2025 Group sales growth1 Mid single digit sales growth Core EPS growth1 High single digit Core EPS growth Dividend outlook Further increase dividend in Swiss francs 1. At CER: Constant exchange rates (avg. full year 202
Slide 37: Proposed exchange of Genussscheine for participation certificates
Roche’s Board of Directors proposes exchange of Genussscheine for participation certificates (Partizipationsscheine) Current structure Future structure: Subject to approval at the AGM 2026 13.2% 13.2% 106,691,000 bearer shares 106,691,000 bearer shares (nominal value CHF 1.00 each) (nominal value CH
Slide 38: Pharmaceuticals Division
Pharmaceuticals Division Teresa Graham CEO Roche Pharmaceuticals
Slide 39: HY 2025: Pharmaceuticals sales
HY 2025: Pharmaceuticals sales Strong growth across all regions HY 2025 HY 2024 Change in % CHFm CHFm CHF CER Pharmaceuticals Division 23,985 22,637 6 10 United States 12,670 11,882 7 10 Europe 4,566 4,425 3 5 Japan 1,425 1,366 4 5 International 5,324 4,964 7 ##### 14 CER: Constant exchange rates (a
Slide 40: HY 2025: Pharmaceuticals core operating profit
HY 2025: Pharmaceuticals core operating profit Core operating profit outgrowing sales with +13%, driven by higher sales and effective cost management 2025 2025 vs. 2024 CHFm Abs. CERm CER growth Sales 23,985 +2,145 10% Other revenue 870 +1 0% Cost of sales -4,119 -321 8% R&D -5,181 +46 -1% SG&A -3,2
Slide 41: HY 2025: Young portfolio delivering strong growth
HY 2025: Young portfolio delivering strong growth Phesgo, Xolair, Hemlibra, Vabysmo, Ocrevus and Polivy driving growth Phesgo 55% Xolair 34% Hemlibra 17% Vabysmo 18% Ocrevus 8% Polivy 46% Xofluza 185% Elevidys 316% Alecensa 8% Evrysdi 7% Gazyva 14% Columvi 88% Actemra / RoActemra 4% Enspryng 27% Ito
Slide 42: Oncology growing +2% driven by the HER2+ franchise
Oncology/Hematology Oncology growing +2% driven by the HER2+ franchise New data presented for Perjeta, Itovebi and Tecentriq Q2 update Itovebi Avastin CHF 36m / N/A ▪ Phesgo: Strong uptake across all regions CHF 522m / -17% Others ▪ EU: Positive CHMP opinion for admin outside of hospital Herceptin C
Slide 43: HER2+ franchise: Continued strong Phesgo and Kadcyla growth
Oncology/Hematology HER2+ franchise: Continued strong Phesgo and Kadcyla growth Phesgo: First mAb-based BC treatment with the flexibility to be administered outside of the hospital (incl. at-home) Global Phesgo conversion rate* HER2+ BC treatment paradigm evolving 50% ** Neoadjuvant Adjuvant cont. F
Slide 44: HER2+ franchise: Evolving mBC treatment paradigm
Oncology/Hematology HER2+ franchise: Evolving mBC treatment paradigm Roche HER2+ portfolio well-positioned to meet evolving needs No “one size fits all” in 1L mBC Oncologist insights from ASCO1 91% believe in using T-Dxd for induction 80% consider using P+H or Phesgo Recent study readouts in Breast
Slide 45: Polivy US patient share in 1L DLBCL reaching 33%
Oncology/Hematology Polivy US patient share in 1L DLBCL (IPI 0-5) reaching 33% Hemlibra with strong growth across all patient segments and regions Q2 update Lunsumio Columvi CHF 48m / +33% ▪ Hemlibra: Increasing adoption in non-inhibitor patients as key CHF 123m / +88% PiaSky global growth driver CH
Slide 46: NXT007: Ph I/II results indicate potential for best-in-disease efficacy
Oncology/Hematology NXT007: Ph I/II results indicate potential for best-in-disease efficacy No treated bleeds in cohorts B-3 and B-4 during NXT007 prophylaxis; Ph III program to initiate in 2026 Ph I/II (NXTAGE Part B) in Hemophilia A: Results1 Clinical development 14 Mean ABR for treated bleeds2 12
Slide 47: Ocrevus Zunovo: 50% of new patients in US are naïve
Neurology Ocrevus Zunovo: 50% of new patients in US are naïve to Ocrevus Achieved EU approval for Evrysdi tablet formulation Q2 update ▪ Ocrevus: >6,800 patients on Ocrevus SC globally Elevidys Others CHF 117m / +316% ▪ Evrysdi: EU approval for tablet formulation achieved CHF 203m / -1% Enspryng ▪ E
Slide 48: Prasinezumab: Moving into Ph III in Parkinson's disease
Neurology Prasinezumab: Moving into Ph III in Parkinson’s disease Ph IIb (PADOVA) and longer follow-up data suggest clinical benefit in delay of confirmed motor progression Prasinezumab (α-synuclein Ab) Ph IIb (PADOVA) 2.5 years results3 Change from baseline to Week 132 on MDS-UPDRS Part III OFF (L-
Slide 49: Prasinezumab Ph III Go decision based on meeting the Bar criteria
Neurology Prasinezumab Ph III Go decision based on meeting the Bar criteria Insights from Ph IIb (PADOVA) and open label extension will inform Ph III trial design The Bar Prasinezumab Answers a clear & addressable ▪ >10m PD patients globally with no approved DMT to slow/stop unmet need progression ▪
Slide 50: Xolair food allergy launch with continued strong momentum
Immunology Xolair food allergy launch with continued strong momentum Astegolimab in COPD with mixed results Q2 update ▪ Xolair: Strong food allergy launch with >60k patients on treatment Others CHF 454m / 0% Actemra ▪ Biosimilar launch expected end of 2026 CHF 1,279m / +4% ▪ Actemra: Biosimilar laun
Slide 51: Vabysmo with continued strong growth momentum
Ophthalmology Vabysmo with continued strong growth momentum Growth delivered despite expected branded market contraction in US Q2 update Luxturna CHF 36m / +292% Susvimo ▪ Vabysmo: Continued market share gains across early launch Lucentis CHF 4m / +335% countries and ongoing global expansion CHF 41m
Slide 52: CVRM pipeline progressing
Cardiovascular, Renal & Metabolism CVRM pipeline progressing Additional trial readouts and Ph III initiations expected for 2025 Clinical development Q2 update ▪ CT-388: Additional Ph I data presented at ADA Indication Asset Ph I Ph II Ph III ▪ Cohort 12: Effect of CT-388 on liver fat ▪ Cohort 13: CT
Slide 53: 2025: Significant key newsflow ahead
2025: Significant key newsflow ahead* Compound Indication Milestone Itovebi + palbociclib + fulvestrant 1L PIK3CA-mut HR+ BC EU approval Columvi + GemOx 2L+ DLBCL US/EU approval / (US/EU) Lunsumio SC 3L+ FL US approval/EU filing (EU filing) Elevidys DMD EU approval Regulatory Gazyva Lupus nephritis
Slide 54: Invitation to Roche Pharma Day 2025
Invitation to Roche Pharma Day 2025 Morning session (Pharma strategy & business; R&D Excellence): ▪ Pharma strategy and commercial growth drivers Teresa Graham, CEO Roche Pharmaceuticals ▪ R&D Excellence update Levi Garraway, CMO and Global Head of PD Afternoon session (pipeline updates): ▪ Oncology
Slide 55: Diagnostics Division
Diagnostics Division Matt Sause CEO Roche Diagnostics
Slide 56: HY 2025: Diagnostics sales
HY 2025: Diagnostics sales Diagnostics Division stable, growth impacted by healthcare pricing reforms in China HY 2025 HY 2024 Change in % CHFm CHFm CHF CER Diagnostics Division 6,959 7,211 -3 0 Core Lab 3,839 4,072 -6 -2 Molecular Lab 1,250 1,257 -1 3 Near Patient Care 1,018 1,094 -7 -3 Pathology L
Slide 57: HY 2025: Diagnostics highlights
HY 2025: Diagnostics highlights Diagnostics Division stable, growth impacted by healthcare pricing reforms in China CHFbn YoY CER growth ▪ Immunodiagnostics (-5%) Core Lab -2% ▪ Clinical Chemistry (+5%) ▪ Infectious diseases (-1%) +3% Molecular Lab ▪ Blood Screening (+8%) Near Patient ▪ BGM (-4%) -3
Slide 58: HY 2025: Diagnostics regional sales
HY 2025: Diagnostics regional sales Strong growth in Latin America, North America and EMEA North America +6% EMEA ~32% of divisional sales +5% ~36% of divisional sales Asia Pacific Latin America -15% +14% ~25% of divisional sales ~7% of divisional sales Growth rates at constant exchange rates (avg.
Slide 59: HY 2025: Diagnostics core operating profit
HY 2025: Diagnostics core operating profit Core operating profit lower by -14% driven by China healthcare pricing reforms 2025 2025 vs. 2024 CHFm Abs. CERm CER growth Sales 6,959 +22 0% Other revenue 35 +14 67% Cost of sales -3,443 -267 8% R&D -893 +20 -2% SG&A -1,429 +7 0% OOI&E 21 -14 -39% Core op
Slide 60: AXELIOS: Roche Sequencing solution
AXELIOS: Roche Sequencing solution New data demonstrate high speed and accuracy across multiple clinical applications Whole Genome Sequencing with FFPE sample analysis in oncology Minimal residual disease in oncology SBX-Fast1 TMB [mut/Mbps] Homopolymer accuracy Colour One SBX-D (No Amp) Cancer ctDN
Slide 61: Elecsys PRO-C3 CE mark
Cardiometabolic Elecsys® PRO-C3 CE mark Elecsys® PRO-C3 together with ADAPT algorithm will advance management of liver fibrosis Elecsys® PRO-C3 Market opportunity ▪ High Disease Burden: MASLD affects 30% of the population, and remains asymptomatic in most patients until advanced stages2 Patients wit
Slide 62: Elecsys Pepsinogen I/II JSMPA approval
Elecsys® Pepsinogen I/II JSMPA approval Elecsys® Pepsinogen I/II will enable screening and triage for patients at high risk of atrophic gastritis Elecsys® Pepsinogen I/II Market opportunity ▪ High Disease Burden: China accounts for 40% (~360k) of new global gastric cancer cases; atrophic gastritis i
Slide 63: VENTANA TROP2 RxDx FDA BDD
Oncology VENTANA® TROP2 RxDx FDA BDD First AI-driven companion diagnostic for non-small cell lung cancer VENTANA® TROP2 RxDx1 Market opportunity ▪ High Disease Burden: Lung cancer affects ~2.5m new patients/year; 80% have NSCLC2 ▪ TROP2 is broadly expressed in NSCLC tumours; quantifying its expressi
Slide 64: Diagnostics key launches 2025
Diagnostics key launches 2025 Area Product Description Market Status Elecsys® pTau 181 Non-invasive blood-based biomarker to enable earlier detection and rule out amyloid pathology CE Elecsys® Troponin-T hs High-sensitive test with greater precision at lower measurement ranges, enabling HCPs to conf
Slide 65: Upcoming IR events
Upcoming IR events
Slide 66: IR events currently planned for 2025
IR events currently planned for 2025 Additional events driven by readouts Ophthalmology Neurology Update Diagnostics Day Hematology Update Pharma Day Update 4 Apr 27 May 23 Jun 22 Sep tbd ▪ Neurology franchise ▪ Deep-dive into the ▪ Hematology franchise ▪ Update on Pharma ▪ Ophthalmology franchise u
Slide 67: Appendix: Roche Group development pipeline
Roche Group development pipeline Marketed products development programmes Roche Pharma global development programmes Roche Pharma research and early development (pRED) Genentech research and early development (gRED) Pharma sales appendix Diagnostics sales appendix Foreign exchange rates information
Slide 68: Changes to the development pipeline
Changes to the development pipeline Q2 2025 update New to phase I New to phase II New to phase III New to registration 2 NMEs: 1 AI: 1 AI (US): RG6505 PanRAS inhibitor – solid tumors RG6237 emugrobart (GYM 329) – obesity RG7446 Tecentriq + lurbinectedin – RG6327 NME - geographic atrophy 1L maintenan
Slide 69: Roche Group development pipeline
Roche Group development pipeline Phase I (42 NMEs + 7 AIs) Phase II (18 NMEs + 8 AIs) RG6026 Columvi monotherapy + combos heme tumors CHU CD137 switch solid tumors RG6107 PiaSky sickle cell disease RG6076 englumafusp alfa combos heme tumors CHU paluratide (RAS inhibitor) solid tumors RG6171 giredest
Slide 70: Roche Group development pipeline
Roche Group development pipeline Phase III (7 NMEs + 28 AIs) Registration US & EU (1 NME + 4 AIs) RG3502 Kadcyla + T HER-2+ eBC high-risk RG6149 astegolimab COPD RG7446 Tecentriq + lurbinectedin1 1L maintenance SCLC Columvi + Polivy + R-CHP 1L DLBCL RG6299 sefaxersen (ASO factor B) IgA nephropathy R
Slide 71: Expected regulatory submissions
Expected regulatory submissions* New Molecular Entities: Lead and additional indications New Molecular Entity (NME) Cardiovascular, Renal & Metabolism emugrobart (GYM 329) Additional Indication (AI) Neurology RG6237 + Evrysdi Oncology / Hematology Ophthalmology SMA Immunology Other emugrobart (GYM 3
Slide 72: Expected regulatory submissions
Expected regulatory submissions* Marketed products: Additional indications New Molecular Entity (NME) Cardiovascular, Renal & Metabolism Additional Indication (AI) Neurology Oncology / Hematology Ophthalmology Immunology Other ✓ Indicates submission to health authorities has occurred Unless stated o
Slide 73: Major pending approvals 2025
Major pending approvals 2025 US EU China Japan-Chugai Xofluza Elevidys Polivy + chemo Tecentriq RG6152 influenza direct transmission RG6356 DMD (EU) RG7596 r/r DLBCL RG7446 ENKL Filed Nov 2024 Filed May 2024 Filed May 2025 Filed Oct 2024 Lunsumio SC Lunsumio SC CellCept RG7828 3L+FL RG7828 3L+FL RG9
Slide 74: Major granted approvals 2025
Major granted approvals 2025 US EU China Japan-Chugai TNKase Columvi + chemo Lunsumio Tecentriq RG3625 stroke RG6026 2L DLBCL RG7828 3L+ FL RG7446 Alveolar Soft Part Sarcoma Feb 2025 April 2024 Dec 2024 Feb 2025 Susvimo Xofluza Itovebi + palbociclib + fulvestrant Elevidys RG6321 DME RG6152 influenza
Slide 75: Roche Group development pipeline
Roche Group development pipeline Marketed products development programmes Roche Pharma global development programmes Roche Pharma research and early development (pRED) Genentech research and early development (gRED) Pharma sales appendix Diagnostics sales appendix Foreign exchange rates information
Slide 76: Alecensa
Alecensa (alectinib, RG7853) CNS-active inhibitor of anaplastic lymphoma kinase Indication Adjuvant ALK+ NSCLC Phase III Phase/study ALINA # of patients N=257 Oncology/Hematology ▪ ARM A: Alecensa 600mg BID Design ▪ ARM B: Platinum-based chemotherapy Primary endpoint ▪ Disease-free survival ▪ FPI Q3
Slide 77: Itovebi
Itovebi (inavolisib, RG6114, GDC-0077) A potent, orally available, and selective PI3Kα inhibitor PIK3CA-mutant HR-positive metastatic post CDKi HR-positive PIK3CA-mutant breast PIK3CA mutant solid tumors and metastatic Indication breast cancer (mBC) cancer ER+ HER2-negative breast cancer Phase III P
Slide 78: Itovebi
Itovebi (inavolisib, RG6114, GDC-0077) A potent, orally available, and selective PI3Kα inhibitor 1L endocrine-sensitive PIK3CA-mutated HR+, HER2-, advanced breast Indication 1L HER2-positive PIK3CA mutant metastatic breast cancer (mBC) cancer Phase III Phase III Phase/study INAVO122 INAVO123 # of pa
Slide 79: Kadcyla
Kadcyla (trastuzumab emtansine, RG3502) First ADC for HER2-positive breast cancer HER2-positive early breast cancer (BC) HER2-positive early breast cancer (BC) Indication high-risk patients high-risk patients Phase III Phase III Phase/study KATHERINE ASTEFANIA # of patients N=1,484 N=1150 ▪ ARM A: K
Slide 80: Tecentriq lung cancer
Tecentriq (atezolizumab, RG7446) Anti-PD-L1 cancer immunotherapy – lung cancer Indication Periadjuvant NSCLC 1L maintenance extensive-stage SCLC Phase III Phase III Phase/study IMpower030 IMforte1 # of patients N=450 N=450 Oncology/Hematology ▪ ARM A: Tecentriq plus platinum-based chemotherapy ▪ ARM
Slide 81: Tecentriq urothelial carcinoma
Tecentriq (atezolizumab, RG7446) Anti-PD-L1 cancer immunotherapy – urothelial carcinoma High-risk non-muscle-invasive ctDNA+, high-risk muscle-invasive Indication bladder cancer (NMIBC) bladder cancer (MIBC) Phase III Phase III Phase/study ALBAN IMvigor011 # of patients N=516 N=240 ARM A: BCG induct
Slide 82: Columvi
Columvi (glofitamab, RG6026) Bispecific anti-CD20/CD3 antibody engaging T and B cells simultaneously Indication Relapsed or refractory Non-Hodgkin’s lymphoma (NHL) Phase/study Phase I Phase Ib Phase I # of patients N=700 N=140 N=18-36 Cohort 1: Single-agent dose escalation study Dose escalation and
Slide 83: Columvi
Columvi (glofitamab, RG6026) Bispecific anti-CD20/CD3 antibody engaging T and B cells simultaneously Indication Non-Hodgkin’s lymphoma (NHL) 2L+ SCT-ineligible DLBCL Phase III Phase/study Phase Ib STARGLO Part I: 15-60 # of patients N=270 Part II: ~66-104 ▪ Part I: Dose-finding for the combination o
Slide 84: Columvi
Columvi (glofitamab, RG6026) Bispecific anti-CD20/CD3 antibody engaging T and B cells simultaneously Indication 2L+ SCT-eligible DLBCL 2L+ SCT-ineligible DLBCL 1L DLBCL fit (IPI 2-5) Phase III Phase/study Phase Ib Phase Ib SKYGLO # of patients N=40 N=112 N=1130 ▪ Columvi plus R-ICE (single-arm study
Slide 85: Columvi
Columvi (glofitamab, RG6026) Bispecific anti-CD20/CD3 antibody engaging T and B cells simultaneously Indication Relapsed or refractory mantle cell lymphoma (MCL) Phase III Phase/study GLOBRYTE # of patients N=182 ▪ ARM A: Columvi monotherapy Oncology/Hematology ▪ ARM B: Bendamustine + rituximab or r
Slide 86: Lunsumio
Lunsumio (mosunetuzumab, RG7828) Bispecific anti-CD20/CD3 antibody engaging T and B cells simultaneously Indication 3L+ FL, 3L+ DLBCL & other relapsed or refractory NHL Relapsed or refractory LBCL & MCL Phase/study Phase I/II Phase Ib/II # of patients N=713 N=235 ▪ Dose escalation of Lunsumio monoth
Slide 87: Lunsumio
Lunsumio (mosunetuzumab, RG7828) Bispecific anti-CD20/CD3 antibody engaging T and B cells simultaneously Indication 2L+ SCT ineligible DLBCL Phase III Phase/study SUNMO # of patients N=222 ▪ ARM A: Lunsumio plus Polivy Oncology/Hematology ▪ ARM B: R + GemOx Design ▪ Progression-free survival Primary
Slide 88: Lunsumio
Lunsumio (mosunetuzumab, RG7828) Bispecific anti-CD20/CD3 antibody engaging T and B cells simultaneously Indication 1L DLBCL & 2L DLBCL following 1L induction FL Phase/study Phase I/II Phase Ib/II # of patients N=187 N=183 ▪ Cohort A: Lunsumio monotherapy (after a response to prior systemic Non-Rand
Slide 89: Lunsumio
Lunsumio (mosunetuzumab, RG7828) Bispecific anti-CD20/CD3 antibody engaging T and B cells simultaneously Indication 2L+ FL Relapsed or refractory CLL Phase III Phase/study Phase Ib/II CELESTIMO # of patients N=474 N=137 ▪ ARM A: Lunsumio plus lenalidomide ▪ Lunsumio monotherapy (3L+ CLL) Oncology/He
Slide 90: Polivy
Polivy (polatuzumab vedotin, RG7596) ADC targeting CD79b to treat B cell malignancies Indication 1L DLBCL Phase III Phase/study POLARIX # of patients N=879 Oncology/Hematology ▪ ARM A: Polivy plus R-CHP ▪ ARM B: R-CHOP Design ▪ Progression-free survival Primary endpoint ▪ Data presented at ASH 2021
Slide 91: Venclexta
Venclexta (venetoclax, RG7601) Novel small molecule Bcl-2 selective inhibitor – chronic lymphocytic leukemia Newly diagnosed higher-risk Indication Untreated fit chronic lymphocytic leukemia (CLL) patients myelodysplastic syndromes (MDS) Phase III Phase III Phase/study CristaLLo VERONA # of patients
Slide 92: Hemlibra
Hemlibra (emicizumab, RG6013) Factor VIII mimetic for treatment of hemophilia A Hemophilia A mild to moderate patients without inhibitors to Indication Hemophilia A patients with and without inhibitors to Factor VIII Factor VIII Phase III Phase III Phase/study HAVEN 5 HAVEN 6 # of patients N=85 N=70
Slide 93: PiaSky
PiaSky (crovalimab, RG6107, SKY59) A humanized monoclonal antibody against complement C5 Indication Paroxysmal nocturnal hemoglobinuria (PNH) patients switching from a C5 inhibitor Phase III Phase/study COMMODORE 1 # of patients N=89 (ARMs A/B) ▪ ARM A: PiaSky ARM B: Eculizumab Oncology/Hematology ▪
Slide 94: PiaSky
PiaSky (crovalimab, RG6107, SKY59) A humanized monoclonal antibody against complement C5 Paroxysmal nocturnal hemoglobinuria (PNH) Paroxysmal nocturnal hemoglobinuria (PNH) Indication C5 inhibitor naive patients C5 inhibitor naive patients (China only) Phase III Phase III Phase/study COMMODORE 2 COM
Slide 95: PiaSky
PiaSky (crovalimab, RG6107, SKY59) A humanized monoclonal antibody against complement C5 Atypical hemolytic uremic syndrome (aHUS) Atypical hemolytic uremic syndrome (aHUS) Indication - adults - paediatric Phase III Phase III Phase/study COMMUTE-a COMMUTE-p # of patients N=90 N=35 Single-arm study o
Slide 96: PiaSky
PiaSky (crovalimab, RG6107, SKY59) A humanized monoclonal antibody against complement C5 Sickle cell disease (SCD) Sickle cell disease (SCD) Indication acute treatment chronic VOC prevention Phase Ib Phase IIa Phase/study CROSSWALK-a CROSSWALK-c # of patients N=30 N=90 Oncology/Hematology ▪ ARM A: P
Slide 97: Elevidys
Elevidys (delandistrogene moxeparvovec, RG6356, SRP-9001) rAAVrh74.MHCK7.Micro-dystrophin gene therapy Indication Duchenne muscular dystrophy (DMD) Phase II Phase/study ENVOL # of patients N=21 Neurology Open label single arm study in 0 to <4 year old DMD boys who will receive a single intravenous (
Slide 98: Enspryng
Enspryng (satralizumab, RG6168, SA237) Anti-IL-6 receptor humanized monoclonal antibody Myelin oligodendrocyte glycoprotein antibody Indication Autoimmune encephalitis (AIE) Duchenne Muscular Dystrophy (DMD) disease (MOG-AD) Phase III Phase III Ph II Phase/study METEOROID CIELO SHIELD DMD # of patie
Slide 99: Evrysdi
Evrysdi (risdiplam, RG7916) Oral SMN2 splicing modifier Indication Spinal muscular atrophy (SMA) Phase II Phase II Phase/study RAINBOWFISH JEWELFISH # of patients N=25 N=174 ▪ Infants aged from birth to 6 weeks who have been genetically ▪ Adult and pediatric patients with previously treated SMA type
Slide 100: Ocrevus
Ocrevus (ocrelizumab, RG1594) Humanized monoclonal antibody selectively targeting CD20+ B cells Indication Primary progressive multiple sclerosis (PPMS) Phase IIIb Phase/study ORATORIO-HAND # of patients N ~ 1,000 Neurology 120-week treatment period: ▪ ARM A: Ocrevus 600mg IV Q24W ▪ ARM B: Placebo D
Slide 101: Ocrevus
Ocrevus (ocrelizumab, RG1594) Humanized monoclonal antibody selectively targeting CD20+ B cells Indication Primary progressive multiple sclerosis (PPMS) Relapsing multiple sclerosis (RMS) PPMS & RMS Phase IIIb Phase IIIb Phase III Phase/study GAVOTTE MUSETTE Ocarina II1 # of patients N ~ 699 N ~ 786
Slide 102: Gazyva
Gazyva (obinutuzumab, RG7159) Immunology development program Indication Lupus nephritis Membranous nephropathy Phase II Phase III Phase III Phase/study NOBILITY REGENCY MAJESTY # of patients N=126 N=252 N=140 ▪ ARM A: Gazyva 1000mg IV plus MMF / ▪ ARM A: Gazyva 1000mg IV (6 doses through ▪ ARM A: Ga
Slide 103: Gazyva
Gazyva (obinutuzumab, RG7159) Immunology development program Indication Systemic lupus erythematosus (SLE) Childhood onset idiopathic nephrotic syndrome* Phase III Phase III Phase/study ALLEGORY INShore # of patients N=300 N=80 ▪ ARM A: Gazyva 1000mg IV on Day 1 and Weeks 2, 24 and 26. ▪ ARM A: Gazy
Slide 104: Lunsumio in SLE
Lunsumio (mosunetuzumab, RG7828, CD20 x CD3) Bispecific anti-CD20/CD3 antibody engaging T and B cells simultaneously Indication Systemic lupus erythematosus (SLE) Phase/study Phase I # of patients N=15 ▪ ARM A: Lunsumio SC on either Day 1 or on Days 1 and 8 Immunology ▪ ARM B: Fractionated (divided)
Slide 105: Xolair
Xolair (omalizumab, RG3648) Humanized monoclonal antibody that selectively binds to IgE Indication Food allergy Phase III Phase/study OUtMATCH1 # of patients N=180 ▪ Xolair by SC injection either Q2W or Q4W for 16 to 20 weeks Immunology Design Primary endpoint ▪ Proportion of participants that succe
Slide 106: Enspryng
Enspryng (satralizumab, RG6168, SA237) Anti-IL-6 receptor humanized monoclonal antibody Indication Thyroid eye disease Phase III Phase III Phase/study SatraGo-1 SatraGo-2 # of patients N=120 N=120 ▪ ARM A: Satralizumab at weeks 0, 2, 4 (loading doses) and maintenance ▪ ARM A: Satralizumab at weeks 0
Slide 107: Susvimo
Susvimo (PDS, RG6321) First eye implant to achieve sustained delivery of a biologic medicine Indication Wet age-related macular degeneration (wAMD) Phase III Phase II+III extension Phase IIIb Phase/study Archway Portal Velodrome # of patients N=418 N=1,000 N=442 ▪ ARM A: PDS 100mg/mL Q24W ▪ Ex-LADDE
Slide 108: Susvimo
Susvimo (PDS, RG6321) First eye implant to achieve sustained delivery of a biologic medicine Diabetic retinopathy (DR) without Indication Diabetic macular edema (DME) center-involved diabetic macular edema (DME) Phase III Phase III Phase/study Pagoda Pavilion # of patients N=634 N=174 ▪ ARM A: Intra
Slide 109: Vabysmo
Vabysmo (faricimab, RG7716) Bispecific antibody for the eye which targets and inhibits two signalling pathways (Ang-2 and VEGF-A) Indication Center-involving diabetic macular edema (CI-DME) Phase III Phase III Phase/study YOSEMITE RHINE # of patients N=940 N=951 ▪ ARM A: Vabysmo 6.0 mg Q8W ▪ ARM A:
Slide 110: Vabysmo
Vabysmo (faricimab, RG7716) Bispecific antibody for the eye which targets and inhibits two signalling pathways (Ang-2 and VEGF-A) Indication Wet age related macular degeneration (wAMD) Phase III Phase III Phase/study TENAYA LUCERNE # of patients N=671 N=658 ▪ ARM A: Vabysmo 6.0mg Q16W flexible after
Slide 111: Vabysmo
Vabysmo (faricimab, RG7716) Bispecific antibody for the eye which targets and inhibits two signalling pathways (Ang-2 and VEGF-A) Indication Macular edema (ME) secondary to branch retinal vein occlusion (RVO) Macular edema (ME) secondary to central retinal vein occlusion (RVO) Phase III Phase III Ph
Slide 112: Vabysmo
Vabysmo (faricimab, RG7716) Bispecific antibody for the eye which targets and inhibits two signalling pathways (Ang-2 and VEGF-A) Indication Myopic choroidal neovascularization (CNV) Phase III Phase/study POYANG # of patients n=280 Ophthalmology ▪ ARM A: Vabysmo 6.0 mg Q4W PRN ▪ ARM B: Ranibizumab 0
Slide 113: Xofluza
Xofluza (baloxavir marboxil, RG6152, S-033188) Small molecule, novel CAP-dependent endonuclease inhibitor Indication Influenza Phase III Phase III Phase IIIb Phase/study miniSTONE 1 (0-1 year old) miniSTONE 2 (1- <12 years old ) CENTERSTONE # of patients N=30 N=176 N=3,160 Healthy pediatric patients
Slide 114: Roche Group development pipeline
Roche Group development pipeline Marketed products development programmes Roche Pharma global development programmes Roche Pharma research and early development (pRED) Genentech research and early development (gRED) Pharma sales appendix Diagnostics sales appendix Foreign exchange rates information
Slide 115: Divarasib
Divarasib (KRAS G12C inhibitor, RG6330, GDC-6036) A potent, orally available, and selective inhibitor of the KRAS G12C mutant protein Indication 1L NSCLC 2L NSCLC 1L NSCLC Phase Ib Phase III Phase III Phase/study KRASCENDO 170 KRASCENDO 1 KRASCENDO 2 # of patients N=60 N=320 N=600 ▪ Cohort A: Combin
Slide 116: Divarasib
Divarasib (KRAS G12C inhibitor, RG6330, GDC-6036) A potent, orally available, and selective inhibitor of the KRAS G12C mutant protein Indication Advanced or metastatic solid tumors with a KRAS G12C mutation 1L metastatic colorectal cancer (mCRC) Phase Ib Phase/study Phase I INTRINSIC # of patients N
Slide 117: Giredestrant
Giredestrant (SERD (3), RG6171, GDC-9545) A selective estrogen receptor degrader or downregulator Indication ER+ HER2-negative metastatic breast cancer (mBC) Phase/study Phase I # of patients N=181 ▪ Dose escalation and expansion at RPTD ▪ Giredestrant monotherapy and in combination with palbociclib
Slide 118: Giredestrant
Giredestrant (SERD (3), RG6171, GDC-9545) A selective estrogen receptor degrader or downregulator Indication Grade 1 endometrial cancer 1L ER-positive metastatic breast cancer (mBC) Adjuvant ER-positive breast cancer (BC) Phase II Phase III Phase III Phase/study endomERA persevERA Breast Cancer lidE
Slide 119: Giredestrant
Giredestrant (SERD (3), RG6171, GDC-9545) A selective estrogen receptor degrader or downregulator post-CDK4/6 ER-positive/HER2-negative 1L ER-positive/HER2-positive breast cancer ET resistant ER+/HER2-negative breast cancer Indication breast cancer (BC) (BC) (BC) Phase III Phase III Phase III Phase/
Slide 120: Tiragolumab
Tiragolumab (anti-TIGIT, RG6058, MTIG7192A) Monoclonal antibody targeting the immune checkpoint inhibitor TIGIT Indication Stage III unresectable 1L NSCLC 1L HCC Phase III Phase III Phase/study SKYSCRAPER-03 SKYSCRAPER-14 # of patients N=800 N=650 Oncology/Hematology ▪ ARM A: Tiragolumab plus Tecent
Slide 121: NXT007
NXT007 (FIXa x FX, RG6512) Bispecific antibody which targets Factor IXa and Factor X Indication Severe or Moderate Hemophilia A Phase I/II Phase/study (multiple-ascending dose) # of patients N=40 Oncology/Hematology ▪ Two loading doses of NXT007 SC (Q2W) followed by Q4W maintenance dosing Design ▪ S
Slide 122: Emugrobart
Emugrobart (RG6237, GYM 329) Recycling and antigen-sweeping monoclonal anti-latent myostatin antibody Indication Facioscapulohumeral Muscular Dystrophy (FSHD) Spinal muscular atrophy (SMA) Phase II Phase II/III Phase/study MANOEUVRE MANATEE1 # of patients N=48 N=259 ▪ 4w baseline movement data colle
Slide 123: Emugrobart
Emugrobart (RG6237, GYM 329) Recycling and antigen-sweeping monoclonal anti-latent myostatin antibody Indication Obesity Phase II Phase/study Phase Ib GYMINDA # of patients N=30-36 N=234 ▪ Cohort A (n=15-18): Single dose emugrobart 50mg SC ▪ 48w DB Tx period: ▪ Cohort B (n=15-18): Multiple dosing 18
Slide 124: Fenebrutinib
Fenebrutinib (RG7845, GCD-0853) Highly selective and reversible (noncovalent) bruton tyrosine kinase Indication Relapsing multiple sclerosis (RMS) Phase III Phase III Phase II (Biomarker study) Phase/study FENhance 1 FENhance 2 FENopta # of patients N=746 N=751 N=109 ARM A: Fenebrutinib twice daily
Slide 125: Fenebrutinib
Fenebrutinib (RG7845, GCD-0853) Highly selective and reversible (noncovalent) bruton tyrosine kinase Indication Primary progressive multiple sclerosis (PPMS) Phase III Phase/study FENtrepid # of patients N=985 Neurology ▪ ARM A: Fenebrutinib twice daily oral ▪ ARM B: Ocrevus 2x300mg IV Q24W Design ▪
Slide 126: Prasinezumab
Prasinezumab (anti-αSynuclein; RG7935) Anti-alpha-synuclein antibody early-stage under investigation for Parkinson’s disease Indication Early-stage Parkinson's disease PASADENA PADOVA Phase/study Phase II Phase IIb # of patients 316 586 ▪ PART 1:ARM A: Prasinezumab IV Q4W (low dose) ▪ ARM A: Prasine
Slide 127: Tominersen
Tominersen (HTT ASO, RG6042) Antisense oligonucleotide (ASO) targeting human HTT mRNA Indication Huntington’s disease Phase II Phase/study GENERATION HD2 # of patients N=300 Neurology Patients aged 25 to 50 years with prodromal (very early subtle signs of HD) or early manifest HD ▪ ARM A: Tominersen
Slide 128: Trontinemab
Trontinemab (BS-anti-Aβ mAb, RG6102) A novel BrainshuttleTM bispecific 2+1 monoclonal antibody targeting Aβ Indication Prodromal or mild to moderate Alzheimer's Disease Phase/study Phase I/II # of patients N=210 Neurology ▪ PART 1 (dose escalation): Q4W trontinemab or placebo for 28w (5 dosing cohor
Slide 129: Astegolimab
Astegolimab (Anti-ST2, RG6149) A monoclonal antibody that selective binds to ST2 Indication Chronic obstructive pulmonary disease (COPD) Phase IIb Phase III Phase/study ALIENTO ARNASA # of patients N=1,290 N=1,290 ▪ ARM A: SC astegolimab Q2W ▪ ARM A: SC astegolimab Q2W ▪ ARM B: SC astegolimab Q4W ▪
Slide 130: Sefaxersen
Sefaxersen (ASO factor B, RG6299) Antisense oligonucleotide that targets factor B Indication IgA nephropathy (IgAN) Phase III Phase/study Phase II* IMAGINATION # of patients N=23 N=428 ▪ Sefaxersen SC at week 1 following Q4W dosing through week 25 ▪ ARM A: Sefaxersen SC at week 1, 3, 5 following Q4W
Slide 131: Afimkibart
Afimkibart (anti-TL1A, RG6631) A monoclonal antibody targeting TL1A, blocking TH1 and TH17 pathways Indication Moderate to severe ulcerative colitis Moderate to severe ulcerative colitis Phase III Phase III Phase/study AMETRINE-1 AMETRINE-2 # of patients N=400 N=350 ▪ ARM A: Afimkibart IV induction
Slide 132: Afimkibart
Afimkibart (anti-TL1A, RG6631) A monoclonal antibody targeting TL1A, blocking TH1 and TH17 pathways Indication Moderate to severe Crohn's Disease Phase III Phase III Phase/study SIBERITE-1 SIBERITE-2 # of patients N=600 N=425 ▪ Treat-through design with no re-randomization after induction ▪ Inductio
Slide 133: Afimkibart
Afimkibart (anti-TL1A, RG6631) A monoclonal antibody targeting TL1A, blocking TH1 and TH17 pathways Indication Atopic dermatitis Metabolic Dysfunction-associated Steatohepatitis (MASH) Phase/study Phase II Phase Ib # of patients N=160 N=50 ▪ ARM A: High dose afimkibart SC ▪ Afimkibart IV at w0, w2,
Slide 134: Vamikibart
Vamikibart (anti-IL-6, RG6179) A monoclonal antibody that potently binds interleukin-6 (IL-6) cytokine Diabetic macular edema (DME) and Uveitic Indication Diabetic macular edema (DME) macular edema (UME) Phase I Phase II Phase II Phase/study DOVETAIL BARDENAS ALLUVIUM # of patients N=90 N=210-230 N=
Slide 135: Vamikibart
Vamikibart (anti-IL-6, RG6179) A monoclonal antibody that potently binds interleukin-6 (IL-6) cytokine Indication Uveitic macular edema (UME) Phase III Phase III Phase/study MEERKAT SANDCAT # of patients N=225 N=225 Ophthalmology ▪ ARM A: Vamikibart low-dose Q4W to week 12, followed by PRN ▪ ARM A:
Slide 136: CT-388
CT-388 (GLP-1/GIP RA, RG6640) Once-weekly subcutaneous injectable dual GLP-1/GIP receptor agonist Overweight/obesity with or without type 2 Overweight/obesity without type 2 Indication Overweight/obesity with type 2 diabetes diabetes diabetes Phase/study Phase I Phase II Phase II # of patients N=129
Slide 137: CT-996
CT-996 (GLP-1 RA, RG6652) Once-daily oral small molecule GLP-1 receptor agonist Overweight/obesity with or without type 2 Indication Obesity without type 2 diabetes Glycaemic control trial with T2D participants diabetes Phase/study Phase I Phase II Phase II # of patients N=118 N=340 N=240 Cardiovasc
Slide 138: CT-868
CT-868 (GLP-1/GIP RA, RG6641) Once-daily subcutaneous injectable dual GLP-1/GIP receptor agonist Indication Type 1 diabetes with BMI ≥ 27 Phase/study Phase II # of patients N=96 Cardiovascular, Renal & Metabolism ▪ ARM A: CT-868 low dose ▪ ARM B: CT-868 medium dose Design ▪ ARM C: CT-868 high dose ▪
Slide 139: Roche Group development pipeline
Roche Group development pipeline Marketed products development programmes Roche Pharma global development programmes Roche Pharma research and early development (pRED) Genentech research and early development (gRED) Pharma sales appendix Diagnostics sales appendix Foreign exchange rates information
Slide 140: pRED oncology development programs
pRED oncology development programs Molecule Indication Phase # of patients Status CT Identifier Oncology Part I: FPI Q3 2019 Part II: FPI Q3 2020 englumafusp alfa R/R B cell non-Hodgkin’s lymphoma I 498 Part III: FPI Q3 2024 NCT04077723 (CD19-4-1BBL, RG6076) Combination study with Columvi Data prese
Slide 141: pRED neurology development programs
pRED neurology development programs Molecule Indication Phase # of patients Status CT Identifier Neurology ISRCTN16295177 BrainshuttleTM-CD20 (RG6035) Multiple sclerosis I 119 FPI Q3 2021 NCT05704361 nivegacetor (gamma-secretase Alzheimer's disease II 245 FPI Q2 2024 NCT06402838 modulator, RG6289) a
Slide 142: pRED immunology and ophthalmology development programs
pRED immunology and ophthalmology development programs Molecule Indication Phase # of patients Status CT Identifier Immunology selnoflast* Asthma Ib 60 FPI Q1 2024 (NLRP3i, RG6418) CD19 x CD3 (RG6382) SLE I 70 FPI Q4 2023 NCT05835986 NME (RG6377) IBD I FPI Q2 2024 ISRCTN15555964 Ophthalmology zifiba
Slide 143: Roche Group development pipeline
Roche Group development pipeline Marketed products development programmes Roche Pharma global development programmes Roche Pharma research and early development (pRED) Genentech research and early development (gRED) Pharma sales appendix Diagnostics sales appendix Foreign exchange rates information
Slide 144: gRED oncology development programs -1
gRED oncology development programs -1 Molecule Indication Phase # of patients Status CT Identifier Oncology FPI Q3 2017 R/R multiple myeloma I 355 LPI Q2 2023 NCT03275103 Data presented at ASH 2020-2024 R/R multiple myeloma I 120 FPI Q2 2021 NCT04910568 cevostamab BCMA-experienced R/R MM I/II 140 FP
Slide 145: gRED oncology development programs -2
gRED oncology development programs -2 Molecule Indication Phase # of patients Status CT Identifier Oncology AR degrader (RG6537)1 mCRPC I ~160 FPI Q2 2023 NCT05800665 NME (RG6468) Solid tumors I 110 FPI Q4 2023 NCT06031441 NME (RG6561) Solid tumors I 310 FPI Q4 2024 NCT06488716 KRAS G12D inhibitor (
Slide 146: gRED immunology and ophthalmology development programs
gRED immunology and ophthalmology development programs Molecule Indication Phase # of patients Status CT Identifier Immunology Cardiac surgery associated acute NME (RG6287, GDC-8264) II 404 FPI Q1 2025 NCT06602453 kidney injury (CS-AKI) TMEM16A potentiator (RG6421, Muco-obstructive respiratory disea
Slide 147: Roche Group development pipeline
Roche Group development pipeline Marketed products development programmes Roche Pharma global development programmes Roche Pharma research and early development (pRED) Genentech research and early development (gRED) Pharma sales appendix Diagnostics sales appendix Foreign exchange rates information
Slide 148: HY 2025: Pharma Division sales
HY 2025: Pharma Division sales Top 20 products Global US Europe Japan International CHFm % CER CHFm % CER CHFm % CER CHFm % CER CHFm % CER Ocrevus 3,506 8 2,462 5 706 12 - - 338 19 Hemlibra 2,421 17 1,324 11 493 7 183 8 421 66 Vabysmo 2,067 18 1,450 9 378 33 70 31 169 118 Tecentriq 1,733 -1 819 -6 4
Slide 149: HY 2025: Pharma Division sales
HY 2025: Pharma Division sales Products launched since 2015 Global US Europe Japan International CHFm % CER CHFm % CER CHFm % CER CHFm % CER CHFm % CER Cotellic 24 25 12 50 5 -2 - - 7 17 Alecensa 802 8 276 20 133 -7 100 5 293 7 Tecentriq 1,733 -1 819 -6 434 3 174 -4 306 13 Ocrevus 3,506 8 2,462 5 70
Slide 150: Pharma Division sales
Pharma Division sales Product sales Pharmaceuticals Division Global US Europe Japan International CHFm % CER CHFm % CER CHFm % CER CHFm % CER CHFm % CER Ocrevus 3,506 8 2,462 5 706 12 - - 338 19 Hemlibra 2,421 17 1,324 11 493 7 183 8 421 66 Vabysmo 2,067 18 1,450 9 378 33 70 31 169 118 Tecentriq 1,7
Slide 151: Pharma Division CER sales growth in %
Pharma Division CER sales growth1 in % Global top 20 products Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Ocrevus 8 9 11 7 6 10 Hemlibra 8 6 14 21 11 22 Vabysmo 108 81 59 43 18 19 Tecentriq 1 2 0 -1 0 -1 Perjeta -3 -1 2 9 -10 -14 Xolair 10 11 12 29 26 41 Actemra / RoActemra -2 8 7 4 -1 8 Phesgo 70 52 55 72
Slide 152: Pharma Division CER sales growth in %
Pharma Division CER sales growth1 in % Top 20 products by region US Europe Japan International Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Ocrevus 9 0 3 8 11 21 11 14 - - - - 23 37 16 23 Hemlibra 12 20 0 21 3 15 7 7 4 22 3 12 64 36 72 60 Vabysmo 49 35 7 10 104 88 42 25 40 46 35 28 180 63 101 130
Slide 153: HY 2025: CER sales growth (%)
HY 2025: CER sales growth (%) Quarterly development 2024 vs. 2023 2025 vs. 2024 Q1 Q2 Q3 Q4 Q1 Q2 Pharma Division 2 9 10 12 8 11 United States 5 6 9 15 6 13 Europe 11 10 2 10 5 5 Japan -45 -3 1 1 3 7 International 12 23 22 11 18 11 Diagnostics Division 2 8 6 -1 0 0 Roche Group 2 9 9 9 6 8 0 CER: Con
Slide 154: Ocrevus
Ocrevus Global sales CER growth Regional sales CER growth CHFbn +8% 4.0 US +5% 3.5 3.0 Europe +12% 2.5 2.0 1.5 1.0 International +19% 0.5 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 3,506m ▪ US: Moving into earlier lines displacing orals; SC launch ongoing; #1 in US for both dynamic and
Slide 155: Hemlibra
Hemlibra Global sales CER growth Regional sales CER growth CHFbn +17% 3.0 US +11% Europe +7% 2.5 2.0 Japan +8% 1.5 1.0 International +66% 0.5 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 2,421m ▪ US: Continued share gains in non-inhibitor patients ▪ EU: Continued share gains in non-inhib
Slide 156: Vabysmo
Vabysmo Global sales CER growth Regional sales CER growth CHFbn +18% 2.5 US +9% 2.0 Europe +33% 1.5 1.0 Japan +31% International +118% 0.5 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 2,067m ▪ US: Continued growth despite branded market contraction ▪ EU: Continued strong growth and doubl
Slide 157: Tecentriq
Tecentriq Global sales CER growth Regional sales CER growth CHFbn -1% 2.0 US -6% Europe +3% 1.6 Japan -4% 1.2 0.8 International +13% 0.4 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 1,733m ▪ US: Competitive pressure intensifying ▪ EU: Growth despite competitive pressure intensifying ▪ In
Slide 158: Perjeta
Perjeta Global sales CER growth Regional sales CER growth CHFbn -12% 2.5 US +1% Europe -16% 2.0 Japan -44% 1.5 1.0 International -18% 0.5 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 1,613m ▪ US: Increasing conversion to Phesgo ▪ EU: Conversion to Phesgo ▪ Japan: Conversion to Phesgo ▪ I
Slide 159: Xolair
Xolair Global sales CER growth Regional sales CER growth CHFbn +34% 1.6 1.4 1.2 US +34% 1.0 0.8 0.6 0.4 0.2 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 1,445m ▪ Strong food allergy launch with >60k patients on treatment; Strong CSU performance driving additional growth CER: Constant exc
Slide 160: Actemra/RoActemra
Actemra/RoActemra ra / RoActemra Global sales CER growth Regional sales CER growth CHFbn +4% 1.6 US +7% 1.4 Europe -14% 1.2 Japan +5% 1.0 0.8 0.6 0.4 International +26% 0.2 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 1,279m ▪ US: Biosimilar launches slower than expected ▪ EU: Decline du
Slide 161: Phesgo
Phesgo Global sales CER growth Regional sales CER growth CHFbn +55% 1.4 US +39% 1.2 Europe +15% 1.0 0.8 Japan +80% 0.6 0.4 International +182% 0.2 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 1,197m ▪ US: Strong growth driven by adjuvant BC, switching of patients from Perjeta+Herceptin t
Slide 162: Kadcyla
Kadcyla Global sales CER growth Regional sales CER growth CHFbn +9% 1.2 US +7% Europe -6% 1.0 0.8 Japan -2% 0.6 0.4 International +28% 0.2 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 1,037m ▪ US: Growth in adjuvant BC compensating for share decline in metastatic BC due to competition ▪
Slide 163: Evrysdi
Evrysdi Global sales CER growth Regional sales CER growth CHFbn +7% 1.0 US +12% Europe +4% 0.8 0.6 Japan +5% 0.4 International +5% 0.2 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 869m ▪ US: Strong uptake across all patient segments, including treatment-naïve patients ▪ EU: Continued gro
Slide 164: Alecensa
Alecensa Global sales CER growth Regional sales CER growth CHFbn +8% 1.0 US +20% Europe -7% 0.8 Japan +5% 0.6 0.4 International +7% 0.2 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 802m ▪ US: Strong position in 1L ALK+ NSCLC is maintained ▪ EU: Strong position in 1L ALK+ NSCLC is maintai
Slide 165: Polivy
Polivy Global sales CER growth Regional sales CER growth CHFbn +46% 0.8 US +32% Europe +90% 0.6 Japan +8% 0.4 0.2 International +88% 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 730m ▪ US: Strong growth following approval in 1L DLBCL ▪ EU: Strong growth following approval in 1L DLBCL ▪ J
Slide 166: MabThera/Rituxan
MabThera/Rituxan Global sales CER growth Regional sales CER growth CHFbn -8% 1.2 US -6% Europe -8% 1.0 0.8 Japan -14% 0.6 0.4 International -11% 0.2 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 630m ▪ US: Biosimilar erosion slowing ▪ EU: Biosimilar erosion bottoms out ▪ Japan: Biosimilar
Slide 167: Herceptin
Herceptin Global sales CER growth Regional sales CER growth CHFbn -21% 1.4 US -10% Europe -1% 1.2 1.0 Japan -51% 0.8 0.6 0.4 International -32% 0.2 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 560m ▪ US: Biosimilar erosion slowing; Switching of patients with residual disease to Kadcyla;
Slide 168: TNKase/Activase
TNKase/Activase Global sales CER growth Regional sales CER growth CHFbn -4% 0.8 0.6 US -3% 0.4 0.2 International -25% 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 550m ▪ Spontaneous TNKase use in AIS early time window CER: Constant exchange rates 168
Slide 169: Avastin
Avastin Global sales CER growth Regional sales CER growth CHFbn -17% 1.2 US -20% Europe -40% 1.0 0.8 Japan -25% 0.6 0.4 International -9% 0.2 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 522m ▪ US: Biosimilar erosion slowing ▪ EU: Ongoing biosimilar erosion ▪ Japan: Ongoing biosimilar er
Slide 170: Gazyva
Gazyva Global sales CER growth Regional sales CER growth CHFbn +14% 0.6 US +20% Europe +1% 0.4 Japan +20% 0.2 International +14% 0.0 HY 2022 HY 2023 HY 2024 HY 2025 HY 2025 sales of CHF 490m ▪ US: Strong growth driven by combination therapies in 1L CLL ▪ EU: Growth driven by combination therapies in
Slide 171: Roche Group development pipeline
Roche Group development pipeline Marketed products development programmes Roche Pharma global development programmes Roche Pharma research and early development (pRED) Genentech research and early development (gRED) Pharma sales appendix Diagnostics sales appendix Foreign exchange rates information
Slide 172: HY 2025: Diagnostics Division CER growth
HY 2025: Diagnostics Division CER growth By Region and Customer Area (vs. 2024) Reported Restatement Global EMEA North America Asia-Pacific Latin America Global EMEA North America Asia-Pacific Latin America CHFm % CER CHFm % CER CHFm % CER CHFm % CER CHFm % CER CHFm % CER CHFm % CER CHFm % CER CHFm
Slide 173: HY 2025: Diagnostics Division quarterly sales and CER growth
HY 2025: Diagnostics Division quarterly sales and CER growth1 Reported Restatement Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 CHFm % CER CHFm % CER CHFm % CER CHFm % CER CHFm % CER CHFm % CER CHFm % CER CHFm % CER CHFm % CER CHFm % CER Core Lab Core Lab Core Lab Core Lab3 2,144 10 1
Slide 174: Diagnostics Division regional sales
Diagnostics Division regional sales Growth across regions, offset by APAC Sales YTD CHFm & % of total sales Sales growth at CER Total YTD Sales = 6,959 Diagnostics Division 0% GLOBAL 510 / 7% 5% EMEA 6% North America 2,485 / 36% -15% APAC 1,729 / 25% 14% LATAM 2,235 / 32% EMEA North America APAC LAT
Slide 175: Core Lab
Core Lab 2025 vs. 2024 CER growth CHF bn -2% 5.0 +3% 4.0 +5% -5% 3.0 2.0 1.0 0.0 HY 2023 HY 2024 HY 2025 Immunodiagnostics Clinical Chemistry Other CER: Constant exchange rates (avg. full year 2024) 175
Slide 176: Molecular Lab
Molecular Lab 2025 vs. 2024 CER growth CHF bn +3% 1.4 +16% 1.2 - 1.0 -15% 0.8 -2% 0.6 -5% -7% 0.4 +8% 0.2 -1% 0.0 HY 2023 HY 2024 HY 2025 Infectious Diseases Blood Screening MD Systems Open Molecular Systems Cervical Cancer Sequencing ML PHCS Other CER: Constant exchange rates (avg. full year 2024);
Slide 177: Near Patient Care
Near Patient Care 2025 vs. 2024 CER growth CHF bn -3% 1.6 +12% 1.2 +1% -4% -3% 0.8 +5% -23% 0.4 0.0 HY 2023 HY 2024 HY 2025 Clinical Chem. & Immunodiagn. Hospital Glucose Coagulation & Urinalysis BGM POC MDx Other CER: Constant exchange rates (avg. full year 2024); BGM: Blood Glucose Monitoring; MDx
Slide 178: Pathology Lab
Pathology Lab 2025 vs. 2024 CER growth CHF bn +12% 0.9 - +19% 0.6 +17% +9% 0.3 0.0 HY 2023 HY 2024 HY 2025 Advanced Staining Primary Staining PL PHCS Other CER: Constant exchange rates (avg. full year 2024); PHCS: Personalised Healthcare Solutions; PL: Pathology Lab 178
Slide 179: Roche Group development pipeline
Roche Group development pipeline Marketed products development programmes Roche Pharma global development programmes Roche Pharma research and early development (pRED) Genentech research and early development (gRED) Pharma sales appendix Diagnostics sales appendix Foreign exchange rates information
Slide 180: CHF/USD
CHF/USD Monthly averages 0.95 0.90 0.85 0% -9% 0.80 0.75 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 Year-to-date averages 0.95 3% 0.85 -3% 0.75 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 180
Slide 181: CHF/USD
CHF/USD 0.95 HY 2025 -2% 0.93 0.91 0.89 0.87 0.85 0.83 0.81 0.79 0.77 0.75 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec avg. full year 2024 avg. full year 2025 monthly avg. 2024 monthly avg. 2025 181
Slide 182: CHF/EUR
CHF/EUR Monthly averages 1.00 0.95 -1% -3% 0.90 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 Year-to-date averages 1.00 0.98 0.96 0.94 0.92 0% -2% 0.90 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 182
Slide 183: CHF/EUR
CHF/EUR 1.00 HY 2025 -1% 0.99 0.98 0.97 0.96 0.95 0.94 0.93 0.92 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec avg. full year 2024 avg. full year 2025 monthly avg. 2024 monthly avg. 2025 183
Slide 184: Average CHF exchange rates
Average CHF exchange rates HY 2025 HY 2024 HY 2025 vs. HY 2024 USD 0.86 0.89 -3% EUR 0.94 0.96 -2% JPY 0.58 0.58 -1% -4% -2% 0% 184
Slide 185: Exchange rate impact on sales growth
Exchange rate impact on sales growth HY 2025: Negative impact of CNY, USD, EUR and JPY Development of average exchange rates versus prior year period Q1 HY YTD Sep FY CHF / USD 2.9% -2.9% CHF / EUR -0.3% -2.1% CHF / JPY 0.1% -0.6% CHF / CNY 1.7% -3.3% Difference in CHF / CER 0.8% -3.6% growth 7.2% 7
Slide 186: Exchange rate impact on sales growth
Exchange rate impact on sales growth HY 2025: Negative impact of USD, CNY, EUR and JPY Development of average exchange rates versus prior year period Q1 Q2 Q3 Q4 CHF / USD 2.9% -8.5% CHF / EUR -0.3% -3.8% CHF / JPY 0.1% -1.5% CHF / CNY 1.7% -8.2% Difference in CHF / CER 0.8% -7.9% growth 8.2% 7.2% 6
Slide 187: Doing now what patients need next
Doing now what patients need next