{"id":559,"date":"2026-08-05T11:32:41","date_gmt":"2026-08-05T11:32:41","guid":{"rendered":"https:\/\/baarda.ch\/?p=559"},"modified":"2026-08-05T11:37:52","modified_gmt":"2026-08-05T11:37:52","slug":"can-you-tell-me-about-roche","status":"publish","type":"post","link":"https:\/\/baarda.ch\/?p=559","title":{"rendered":"Can you tell me about Roche?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>F. Hoffmann-La Roche AG<\/strong>, commonly known as <strong>Roche<\/strong>, is a Swiss multinational healthcare giant headquartered in Basel, Switzerland. Founded in 1896 by Fritz Hoffmann-La Roche, it is one of the world&#8217;s largest pharmaceutical companies and the global leader in cancer treatments and <em>in-vitro<\/em> diagnostics.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"680\" src=\"https:\/\/baarda.ch\/wp-content\/uploads\/2026\/08\/afbeelding-1-1024x680.png\" alt=\"\" class=\"wp-image-560\" srcset=\"https:\/\/baarda.ch\/wp-content\/uploads\/2026\/08\/afbeelding-1-1024x680.png 1024w, https:\/\/baarda.ch\/wp-content\/uploads\/2026\/08\/afbeelding-1-300x199.png 300w, https:\/\/baarda.ch\/wp-content\/uploads\/2026\/08\/afbeelding-1-768x510.png 768w, https:\/\/baarda.ch\/wp-content\/uploads\/2026\/08\/afbeelding-1-1536x1020.png 1536w, https:\/\/baarda.ch\/wp-content\/uploads\/2026\/08\/afbeelding-1.png 2048w\" sizes=\"auto, (max-width: 706px) 89vw, (max-width: 767px) 82vw, 740px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Roche headquarters in Basel, Switzerland. Bron: Rafael_Wiedenmeier \/ Getty Images<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Core Business Divisions<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Roche operates under two primary global divisions:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Pharmaceuticals:<\/strong> Focuses heavily on biotechnology, oncology, immunology, ophthalmology, infectious diseases, and neuroscience. Major blockbusters include <strong>Ocrevus<\/strong> (multiple sclerosis), <strong>Hemlibra<\/strong> (hemophilia A), <strong>Tecentriq<\/strong> (cancer immunotherapy), and historical oncology anchors <strong>Herceptin<\/strong>, <strong>Avastin<\/strong>, and <strong>Rituxan<\/strong>.<\/li>\n\n\n\n<li><strong>Diagnostics:<\/strong> Develops diagnostic instruments, assays, and digital solutions for hospitals, laboratories, and point-of-care testing. It is a market leader in molecular diagnostics, tissue pathology, and blood glucose monitoring (Accu-Chek).<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Strategic Milestones &amp; Structure<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Genentech Acquisition:<\/strong> Roche acquired full ownership of US biotech pioneer <strong>Genentech<\/strong> in 2009 for $46.8 billion, making Genentech its primary US research hub and core engine for biological medicines.<\/li>\n\n\n\n<li><strong>Personalized Healthcare:<\/strong> Roche pioneered the combination of in-house diagnostic tools with targeted therapeutics, enabling healthcare providers to match treatments to patients&#8216; specific genetic profiles.<\/li>\n\n\n\n<li><strong>Ownership:<\/strong> The founding <strong>Hoffmann-Oeri family<\/strong> holds the controlling pool of voting bearer shares, maintaining long-term independence while non-voting equity shares (<em>Genusstscheine<\/em>) trade publicly on the SIX Swiss Exchange.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Did the genusstscheine of Roche improve in value over the last 5 years&gt;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To evaluate the 5-year performance of Roche&#8217;s non-voting equity certificates (<strong>Genussscheine<\/strong>, ticker: <strong>ROG<\/strong>), it helps to distinguish between <strong>capital appreciation<\/strong> (share price movement) and <strong>total return<\/strong> (price appreciation plus reinvested dividends).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. Capital Appreciation (Price Movement)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">On a pure share price basis, Roche Genussscheine <strong>did not gain value<\/strong> compared to five years ago, though they have recovered significantly from their multi-year lows.<sup><\/sup><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>5 Years Ago (Mid-2021):<\/strong> Trading around <strong>CHF 350 \u2013 CHF 360<\/strong>.<\/li>\n\n\n\n<li><strong>Peak (Spring 2022):<\/strong> Reached an all-time high of over <strong>CHF 400<\/strong> driven by COVID-19 diagnostics demand and pharmaceutical revenues.<\/li>\n\n\n\n<li><strong>Bottom (Early 2024):<\/strong> Dropped to around <strong>CHF 220 \u2013 CHF 245<\/strong> due to the steep decline in post-pandemic COVID testing revenue, clinical trial setbacks, and Swiss franc strength.<\/li>\n\n\n\n<li><strong>Current Level (2026):<\/strong> Rebounded back to around <strong>CHF 330 \u2013 CHF 358<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Verdict on Nominal Price:<\/strong> The price is slightly below or roughly flat relative to 2021 levels (a modest loss to flat performance depending on the exact buying window in 2021).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. Total Shareholder Return (TSR)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you include <strong>dividend payouts<\/strong>, the investment yielded a <strong>positive total return<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Roche is a reliable dividend growth stock, having increased its payout for 38+ consecutive years.<\/li>\n\n\n\n<li>Over the past 5 years, Roche paid out substantial cumulative dividends per non-voting certificate:\n<ul class=\"wp-block-list\">\n<li><strong>2021:<\/strong> CHF 9.30<\/li>\n\n\n\n<li><strong>2022:<\/strong> CHF 9.50<\/li>\n\n\n\n<li><strong>2023:<\/strong> CHF 9.60<\/li>\n\n\n\n<li><strong>2024:<\/strong> CHF 9.70<\/li>\n\n\n\n<li><strong>2025:<\/strong> CHF 9.80<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Summing these cash payouts yields over <strong>CHF 47 per Genussschein<\/strong> in cash dividends alone over the 5-year holding period.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Summary<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Price alone:<\/strong> Virtually flat to slightly down compared to 2021 levels.<\/li>\n\n\n\n<li><strong>Total Return (Price + Dividends):<\/strong> <strong>Improved in value<\/strong> thanks to a steady annual dividend yield of ~3\u20134%.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>F. Hoffmann-La Roche AG, commonly known as Roche, is a Swiss multinational healthcare giant headquartered in Basel, Switzerland. Founded in 1896 by Fritz Hoffmann-La Roche, it is one of the world&#8217;s largest pharmaceutical companies and the global leader in cancer treatments and in-vitro diagnostics. Roche headquarters in Basel, Switzerland. Bron: Rafael_Wiedenmeier \/ Getty Images Core &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/baarda.ch\/?p=559\" class=\"more-link\"><span class=\"screen-reader-text\">&#171;Can you tell me about Roche?&#187;<\/span> weiterlesen<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-559","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/baarda.ch\/index.php?rest_route=\/wp\/v2\/posts\/559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baarda.ch\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baarda.ch\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baarda.ch\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/baarda.ch\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=559"}],"version-history":[{"count":2,"href":"https:\/\/baarda.ch\/index.php?rest_route=\/wp\/v2\/posts\/559\/revisions"}],"predecessor-version":[{"id":562,"href":"https:\/\/baarda.ch\/index.php?rest_route=\/wp\/v2\/posts\/559\/revisions\/562"}],"wp:attachment":[{"href":"https:\/\/baarda.ch\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baarda.ch\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baarda.ch\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}