Roche Holding AG

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Thank you very much and hello to everyone wherever in the world you are. I'm really excited to share with you the results of 2024 for the Roche Group, because I believe this year has really been an excellent year for us. So let's look at the performance. So overall, group sales was at 7%. The base business, meaning excluding COVID-19, grew even with impressive 9%. Pharma, 9%, and diagnostics, 8%. We saw the last and final impact of COVID-19 sales in reduction in 2024, so there is no more impact going forward. The final impact was 1.1 billion, so exactly in line with the guidance that we gave at the beginning of the year. The LOE impact was 1 billion Swiss francs, so slightly better than the guidance we had given. To round out the very strong performance of the organization, Let's look at the third line here. Core operating profit growth plus 14%. Group core operating margin up 2.1 percentage points. Core EPS growth plus 12% if you exclude the tax effect, which we guided for, or plus 7% if you include it. Operating free cash flow up 34% at 21.2 billion Swiss francs. Certainly the number that Alan loves the most. Key milestones achieved in Q4, you see them on this list here. EU approval for the . We had positive readout for tritinamab, and also in the PRASI trial, we see a potential benefit in certain subpopulations with this disease. On the diagnostic side, it was a very busy quarter with the mass spectrometry launch, the 6,888 launch, and so on. And also on the deal side, we made good progress, introducing Poseida to our organization, allogeneic cortis, not only for oncology, but also in the autoimmune diseases and the DLL3 ADC deal in small cell lung cancer. 2025 will really be a significant year for us in terms of phase three readouts, but also in phase three enabling readouts. So movement from phase two and phase three, where we have up to seven animals Can you hear me? Yeah, now you can hear me. Okay, perfect. Sorry about that. Good. So now let's look at how we did versus the guidance. At the beginning of the year, we talked about mid-single digit sales growth for the year 2024. We definitely ended up at the upper end of this guidance at 7%. Also at the beginning of the year, we talked about mid-single digit core EPS growth, excluding impact from resolution of tax disputes in 2023. We raised that guidance in mid-year. And we've clearly exceeded this guidance with 12%. Again, if you include the impact, we are at 7%, which is in line with the sales growth. And we further increased the dividend. This means that we have increased the dividend for the 38th consecutive year. And as you will see at the end, we plan to do that also for the ninth consecutive year. Here you can see The slide that we always show, you can see that the rush group grew 7%. If you exclude COVID, we had a very strong growth of 9%. So again, very strong performance in the group. Now, this is one of the slides that I like very much. On the left-hand side, you see the group sales growth over the last couple of quarters and years. And then the right-hand side, you can see the growth if you exclude COVID-19. Clearly, we are one of the companies that had significant sales of COVID-19 between 2020 and 2022. In fact, around 19 billion Swiss francs. And we are also very proud of the contribution that we did at the time. But also, it means that as COVID-19 went away, and we always communicated that it would go away, we had in 2023 the situation that we had to compensate this loss. And we did so with significant base business growth, so excluding COVID-19. And this growth has been very strong over the last two years. You see 2023, 8%. If you take the average of 24, you're at 9% growth. And in fact, in the last three quarters, we reported 9% growth each quarter. I think this is a very strong performance from the organization. Now, let me quickly take you through this slide. A couple of highlights that I would like to make. First of all, we have now 17 medicines that have blockbuster status. Furthermore, in oncology, Pageta-Fesco conversion rate is now increasing to 46%. PolyV, U.S. patient share, first line DLVCL, now climbing to 29%, establishing itself to the new standard of care. It's also an opportunity to further build upon it with combinations with the CD20, CD3, by specifics that we have. Hemlibra, patient share in the U.S., EU, now reaching 42%. And we are now also looking forward to the phase three enabling readout of NXT 007, which is the next generation of Hemlibra. In neurology, Ocrevus subcutaneous, now with roughly 50% patient share being naive to Ocrevus. And the J-code is only to come in 1st of April. Eliminators with good launch momentum, and clearly Teresa will touch on that and on the promising two-year follow-up data from the phase three Embark study. Xola food allergy with continued strong uptake, now at more than 40,000 patients on treatment. mid-teens to be expected in terms of growth in 2025. But Biosmall pre-filled the range, now also approved in the EU, and is set to become the number one ophthalmology brand in 2025. In diagnostics, strong baselessness growth of 8%, as mentioned before. Now, let's take a brief look into the future. I can say that we have completed our strategic review, and we are really now in implementation throughout the organization. So we're set for the future. I would like to touch on the formation of our near-patient care organization in diagnostics. So in diagnostics, we have four customer areas, core lab, molecular lab, pathology lab, and near-patient care. In the first three, we're the number one globally. The area where we want to become number one is near patient care. And here we've done the acquisition of Lumira DX. And this has been covered quite a bit by Matt and myself in recent presentations. What's really special about this platform, it's a handheld platform. And on this technology, you can do multiple different technologies in terms of measurement, chemical chemistry, immunochemistry, coagulation, potentially molecular diagnostics. And it's room temperature. And it's really disruptive from a cost of goods position. AccuCheck CGM was launched last year. This will enter us into a very fast-growing, very large market. Covus Liat, we just recently announced the menu expansion into SDI, and we'll continue to build out the menu. But we have two more platforms in our pipeline. One is around blood gas, the other one around lab-like immunoassay performance, where we are going to continuously invest into the near-patient care segment, and we'll continue to build out that segment as we go into the next years. Now let's go to pharma. you've seen the very strong momentum that we have in our organization. And this is really due to the young portfolio that we have in terms of medicines. And you can see on the right-hand side that in the meantime, 56% of our pharma sales are coming from these new medicines. In fact, in 2024, we launched two new medicines. One is PSGuy and the other one is Itofbi. And I would definitely say ITOFBI is best in class, and we have very high hopes on ITOFBI. In 2025, we have a total of four potential enemies that with a positive phase three readout could lead to launches in 2026. We have a fifth one, which is Tirogolimab, but we didn't mention on here, because as we know, the hopes for Tirogolimab are lower. But there are still certain trials ongoing. Let's see how that runs out. But those are the four that we would like to highlight for 2025. What's also important is that we are one of the companies that has very little biosimilar exposure until the end of the decade. So we have less headwinds than many other companies have in our industry in this time period. Now let's look specifically at the pharma pipeline in 2025 and what we can expect. Here you see a list of a number of our key assets in our pipeline. In fact, we have more than seven NMEs with a peak sales potential of more than 3 billion and four with peak sales of 2 to 3 billion. We have six marketed products that each have trials ongoing with potential line extensions that could add another 1 to 2 billion each per asset. Now, 2025 will be a special year. because we have 12 key pivotal readouts, so approximately one per month. And we have four readouts that are linked to new enemies that could be launched in then 2026. And even more important, I would say, is that we are refilling our late stage pipeline. We have seven enemies that could enter into phase three. And that would be really, for us, a record. If I compare that to last 10 years or so, to bring seven additional NMEs into late stage would be really significant for us. Now, let me finalize with the 2025 guidance. And you can see that we expect LOE impact of about 1.2 billion Swiss francs, so slightly higher than what we saw in 2024. And we aim for group sales growth in mid-single digit sales range and core EPS growth in the high single digit range. And dividends, we aim to further increase in Swiss francs. Thank you very much. And with that, I hand over to Alan.