Roche Holding sales disappoint as drugs decline eclipses Covid-19 tests

Roche Holding AG’s third-quarter sales fell short of estimates as a boost from Covid-19 tests and new medicines weren’t enough to offset a decline from aging prescription drugs.

The Swiss drugmaker’s revenue rose 1% to 14.7 billion francs ($16.1 billion), the company said. Analysts expected sales of 15.4 billion francs, according to the average of eight estimates. The stock dropped as much as 2% in Zurich trading.

Roche has forged partnerships and used its diagnostics unit to get into the market for tests and potential treatments for Covid-19, helping it counteract a more challenging environment for its older medicines. These medicines face