Roche has announced it will be in attendance of the 44th JP Morgan Healthcare Conference this year on January 12, 2025, at 10:00 AM PST. Currently the company has yet to announce plans for its presentation.

2025

At the last JP Morgan conference in January 2025, Roche’s message was clear, begin to shift from consolidation to optimization, specifically around its internal pipeline and research and development processes, which saw Roche cut 30% of its internal pipeline.

Revealed at the last event as well is that Roche routinely sets aside roughly $10 billion each year for potential deals, with Roche Pharmaceuticals CEO Teresa Graham emphasizing that access to capital does not equate to pressure to deploy it. Instead, Roche has remained highly selective, prioritizing strategic fit and scientific differentiation over transaction size.

Roche’s executives at JP Morgan 2025 spoke candidly about the company’s need to be more deliberate in its approach on how capital and scientific resources are deployed. Rather than extending R&D across a broad landscape, the company instead emphasized prioritization on investing in programs with the potential to redefine standards of care.

The decision was elected as a move toward a more “judicious” approach to pipeline advancement, one aiming to improve productivity and decision-making across internal research and late-stage development.

This internal focus was framed as a competitive necessity, with drug development costs rising and regulatory scrutiny intensifying. Roche positioned its R&D organization as an evolving system being constantly shaped by sharper portfolio governance, tighter clinical endpoints, and a willingness to stop programs earlier when data do not support differentiation.

The goal suggested by Roche executives was not simply to do more science, but to do better science.

In October, the company raised its outlook for full-year earnings due an increase in its expected operational performance from the first nine months of 2025, giving management greater latitude to emphasize long-term investments rather than near-term course correction.

Roche enters 2026 on stable financial footing, following its renewed emphasis on the organization’s internal engine, rather than large-scale acquisitions, the primary driver of future growth. Investors and industry observers alike will be wondering if Roche’s recalibrated R&D approach can translate into a pipeline capable of sustaining the company’s leadership well into the next decade.

2024

“2024 was a strong year for Roche. In the fourth quarter, we continued our very positive momentum for the third consecutive quarter with Group sales growth of 9% (CER). Core earnings per share exceeded the guidance raised at half year,” said Roche CEO Thomas Schinecker in early 2025.

In 2024, Roche delivered group sales of $74.1 billion, posting modest reported growth, and stronger performance at constant exchange rates, with the pharmaceuticals division continuing to anchor results. The unit also helped offset ongoing pressure in diagnostics as pandemic-related demand began to shift back toward] normal levels.

While top-line growth was not dramatic, the year reinforced Roche’s reputation for stability, particularly during a time in which several large peers were contending with sharper revenue dislocations.

Throughout 2024, Roche’s management focused on operational discipline and selective investment rather than aggressive expansion. Cost controls and prioritization within its R&D portfolio were recurring themes, with Roche working to balance reinvestment in innovation while also needing to maintain protection on its margins.

Oncology remained the company’s largest growth engine, while leadership also began to lay the groundwork for broader diversification, signaling longer-term ambitions in neuroscience and immunology.

The company’s financial position remained a strategic asset, as by the end of 2024, Roche had reaffirmed its capacity to pursue external innovation, with executives noting the roughly $10 billion in available firepower for potential acquisitions.

Sources

1. Roche reports strong 2024 results with 7% sales growth; fourth quarter marks third straight quarter of 9% growth Roche January 29, 2025 https://www.roche.com/media/releases/med-cor-2025-01-30#:~:text=In%202024%2C%20Roche%20achieved%20sales,compared%20to%20constant%20exchange%20rates.
2. Roche continues strong sales growth momentum of 7% (CER) in the first nine months of 2025; full-year earnings outlook raised Roche October 22, 2025 https://www.roche.com/media/releases/med-cor-2025-10-23#:~:text=Africa%2C%20Canada%2C%20others-,Outlook%20for%202025%20earnings%20raised,first%20nine%20months%20of%202024.
3. JPM25 Day Two: Roche, Amgen, Merck, Lilly and Biogen BioSpace Janurary 15, 2025 https://www.biospace.com/business/jpm25-day-two-roche-amgen-merck-lilly-and-biogen#:~:text=Roche%20Eyes%20Judicious%20Use%20of,the%20game%20in%20important%20diseases.%E2%80%9D
4. Roche IR Events Roche Accessed December 22, 2025 https://www.roche.com/investors/events