Roche CEO Criticizes Healthcare Under-Investment
COVID-19 Crisis Highlights Poor Infrastructure
The coronavirus pandemic has not had much impact to date on Roche's operations and first-quarter sales grew nicely. However, CEO Severin Schwan hopes certain countries will learn the lesson about not being prepared.
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Roche's diagnostics sales increased 5% to $2.93bn in the first quarter of 2020. Molecular diagnostics was the main growth contributor, driven by demand for COVID-19 tests and automated testing systems.
The coronavirus outbreak shows how vulnerable vast numbers of people remain to potentially deadly viruses. Roche boss Severin Schwan believes that the lessons being learnt about COVID-19 should be applied to tackling flu.
The COVID-19 antibody tests that so far have gone through the validation process have not proven accurate enough to be rolled out for public use, says the UK. A new rapid test consortium is working on a solution.