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☆ Swiss pharma giant Roche's first-quarter sales edge higher as its emerges from post-Covid-19 slump
▼ + stars: | 2024-04-24 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Swiss pharmaceutical company Roche on Wednesday reported a modest uptick in first-quarter sales, even as waning demand for its Covid-19 products continued to weigh on the company. Sales were up 2% at constant exchange rates, led by stronger demand for Roche's newer medicines and diagnostics, the company said. Excluding Covid-19 products, sales were up 7%. But sales tightened when reported in the company's local currency, down 6% off the back of a strong Swiss franc. Roche CEO Thomas Schinecker on Wednesday confirmed the company's 2024 outlook, saying it was largely out of the woods following a post-Covid-19 slump.

Persons: Roche, Thomas Schinecker, Schinecker Organizations: Roche, AG, Wednesday, Reuters Locations: Basel, Switzerland, Swiss

☆ Roche’s late obesity punt offers wider market cure
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Arnd Wiegmann Acquire Licensing RightsLONDON, Dec 4 (Reuters Breakingviews) - Roche’s (ROG.S) foray into the prospective $100 billion obesity market can bring wider benefits. On Monday, the $224 billion Swiss pharma group said it had agreed to take over weight-loss drug developer Carmot Therapeutics for $2.7 billion. Market leader Novo Nordisk (NOVOb.CO) is already selling obesity drugs in the U.S. and parts of Europe. Still, Schinecker’s obesity bet could turn successful if it ends up undercutting obesity pioneers on prices. With over 1 billion people globally classed as seriously overweight, other drugmakers will follow Roche on the obesity bandwagon.

Persons: drugmaker Roche, Arnd, Eli Lilly’s, Thomas Schinecker, Eli Lilly, Eccogene, Roche, Aimee Donnellan, Neiman Marcus, Lisa Jucca, Oliver Taslic Organizations: REUTERS, Reuters, Swiss pharma, Carmot Therapeutics, Novo Nordisk, U.S . Food, Drug Administration, AstraZeneca, Novo, X, Saks, Thomson Locations: Basel, Switzerland, U.S, Europe, Hong Kong

The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland January 30, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Dec 4 (Reuters) - Roche (ROG.S) agreed to take over obesity drug developer Carmot Therapeutics (CRMO.O) for $2.7 billion, joining a list global contestants seeking to challenge the dominant makers of weight-loss drugs Novo Nordisk (NOVOb.CO) and Eli Lilly. After encouraging Phase I trial results, the drug is ready to be tested on humans in the second of three trial stages, Roche added. Among recent deals to acquire obesity drug development projects, AstraZeneca (AZN.L) last month agreed to pay up to $2 billion for the rights to an experimental pill from China's Eccogene. Roche will obtain access to Carmot's current R&D portfolio including all clinical and preclinical assets.

Persons: drugmaker Roche, Arnd, ROG.S, Eli Lilly, Swiss drugmaker, Roche, . New Roche, Thomas Schinecker, Ludwig Burger, Noel Illien, Rachel More, Louise Heavens Organizations: REUTERS, Rights, Carmot Therapeutics, Novo Nordisk, AstraZeneca, Pfizer, Thomson Locations: Basel, Switzerland, Swiss, ., Alzheimer's

New Roche CEO Thomas Schinecker is keen to restore Roche's battered drug development record after major late-stage trial setbacks in the areas of Alzheimer's and cancer immunotherapy last year. The acquired drug, against inflammatory bowel disease such as ulcerative colitis and Crohn's disease, belongs to a class of new treatments known as anti-TL1A antibodies which has attracted major deal activity in the pharma industry. Merck & Co (MRK.N) in April agreed to buy anti-TL1A antibody developer Prometheus Biosciences for $10.8 billion. Inflammatory bowel disease is a group of chronic gastrointestinal disorders with almost 8 million people diagnosed worldwide and 80% of all individuals not experiencing lasting remission, Roche said. "We strongly believe this novel TL1A directed antibody has the transformational potential to make a significant difference for patients living with inflammatory bowel disease and potentially other diseases," said Roche CEO Schinecker.

Persons: drugmaker Roche, Arnd, New Roche, Thomas Schinecker, Schinecker, Roche, John Revill, Ludwig Burger, Friederike Heine, Jason Neely Organizations: REUTERS, Roivant Holdings, Pfizer Inc, pharma, Sanofi, Merck & Co, Prometheus Biosciences, Thomson Locations: Basel, Switzerland, ZURICH, FRANKFURT, Swiss, U.S, Japan, Zurich, Frankfurt

☆ Roche's $7 bln deal is pricey and partial cure
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

Roche tablets are seen positioned in front of a displayed Roche logo in this photo illustration shot January 22, 2016. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Oct 23 (Reuters Breakingviews) - Roche (ROG.S) has taken a small step towards curing its drug pipeline problem. JPMorgan analysts estimate that the drug’s U.S. sales could peak at 2.4 billion Swiss francs ($2.7 billion), but will take until 2037 to get there, assuming a 2028 launch. Analysts expect Roche’s pharmaceutical division to generate revenue of almost 45 billion Swiss francs this year, according to estimates compiled by LSEG. With expected free cash flow of around 16 billion Swiss francs this year and next, Roche can afford to buy a little more diversification.

Persons: Roche, Dado Ruvic, Thomas Schinecker, Peter Thal Larsen, Jean, Pierre Mustier, Atos, Jonathan Guilford, Aditya Sriwatsav Organizations: REUTERS, Reuters, Pfizer, U.S, New, JPMorgan, Merck, Prometheus Biosciences, Analysts, LSEG, X, News Corp, Thomson Locations: Swiss, U.S

☆ Roche's Q3 sales down 3% on currency headwinds, drop in COVID sales
▼ + stars: | 2023-10-19 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

Quarterly sales came in at 14.3 billion Swiss francs ($15.9 billion), the Swiss drugs and diagnostics maker said in a statement, broadly in line with analyst estimates. A high-dose version of Eylea for less frequent injections won U.S. approval in August, creating doubt among analysts that a string of forecast-beating Vabysmo sales can continue. CEO Thomas Schinecker - who is keen to restore Roche's drug development record - said he was looking to acquire drug assets in all stages of development but that there was no rush. He pointed to 10% sales growth during the quarter, excluding currency headwinds and the slump in COVID sales. However, it predicted a less pronounced decline in sales of COVID-19 products of about 4.5 billion Swiss francs, from a previous estimate of a drop of 5 billion francs.

Persons: drugmaker Roche, Arnd, Roche, Regeneron, Thomas Schinecker, Schinecker, Ludwig Burger, Friederike Heine, Elaine Hardcastle Organizations: REUTERS, Bayer, Thomson Locations: Basel, Switzerland, COVID, Swiss

☆ The U.S.' Inflation Reduction Act risks hampering innovation, says Roche CEO
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe U.S.' Inflation Reduction Act risks hampering innovation, says Roche CEORoche CEO Thomas Schinecker warns that sections of the U.S. Inflation Reduction Act could stifle the development of new medicines.

Persons: Roche, Thomas Schinecker Organizations: U.S

☆ Roche Q1 sales decline tempered by swift uptake of new eye drug
▼ + stars: | 2023-04-26 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

[1/2] The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland January 30, 2020. Quarterly group revenue fell to 15.3 billion Swiss francs ($17.2 billion), the company reported on Wednesday, beating market expectations of 14.8 billion francs. The company, which does not report earnings for its first and third quarter, reiterated that pandemic-related sales - mainly lab testing, antibody treatment Ronapreve and repurposed arthritis drug Actemra - would drop by 5 billion francs this year. "We are very happy with the very rapid and significant uptake in the different markets around the world," he said on a media call. Sales and core earnings per share were still expected to decrease at a "low single-digit" percentage in 2023, the pharmaceuticals and diagnostics company added.

☆ New biomarkers, technologies and pharma products will fill Covid vacuum: Roche CEO
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew biomarkers, technologies and pharma products will fill Covid vacuum: Roche CEOThomas Schinecker, the CEO of Roche, discusses first-quarter earnings, and the new growth developments that will help mitigate the decrease in demand for Covid-19 related products.

☆ Roche flags 2023 earnings decline on slump in COVID products
▼ + stars: | 2023-02-02 | by ( Ludwig Burger | ) www.reuters.com time to read: +1 min

Last year, group revenue edged 1% higher to 63.3 billion Swiss francs ($69.78 billion), the company reported, beating market expectations of 63.2 billion francs, while core operating profit gained 1% to 22.2 billion Swiss francs, just shy of the average analyst estimate of 22.4 billion francs. The onus to reinvigorate the pipeline will be on chief executive officer-designate Thomas Schinecker, who is Roche's head of diagnostics, and due to be promoted to group CEO in March. In the wake of Schinecker's appointment, the head of Roche's pharmaceuticals division, Bill Anderson, decided in December to leave after 16 years with the Swiss drugmaker. Roche said on Thursday that Teresa Graham, currently Head of Global Product Strategy for Roche Pharmaceuticals, would succeed Anderson. ($1 = 0.9071 Swiss francs)Reporting by Ludwig Burger; Editing by Paul Carrel and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Roche's head of pharmaceuticals to leave company
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Dec 12 (Reuters) - Roche's (ROG.S) head of its pharmaceuticals division will leave the drugmaker at the end of the year, the Swiss company said on Monday, as it confirmed other parts of its succession plan. Former Genentech boss Bill Anderson "has decided to pursue opportunities outside of Roche," Roche said, with a successor due to be named by March 2023. Schinecker will replace Severin Schwan, who is slated to become chairman after 14 years as CEO of Roche. He has been instrumental in shaping Roche’s transformation and I wish him all the best for the future," Schwan said in a statement. He had been CEO of Roche's pharmaceuticals business since 2019.

☆ Roche reminds investors big drug bets have risks
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 14 (Reuters Breakingviews) - Shareholders in Swiss drug giant Roche (ROG.S) are learning the downside of making big bets on new drugs. Credit Suisse analysts reckoned the drug could eventually generate around $10 billion of sales. If shareholders had valued that revenue at the same 4 times multiple at which Roche currently trades, the drug could have added nearly $40 billion of value to the company. That suggests investors were attaching a less than one-in-three chance of the drug being a success. Roche investors should brace for more big bets.

☆ Roche's Alzheimer's drug fails to meet goal in long awaited trial
▼ + stars: | 2022-11-14 | by ( Ludwig Burger | ) www.reuters.com time to read: +4 min

Nov 14 (Reuters) - Roche said (ROG.S) its Alzheimer's drug candidate could not clearly be shown to slow dementia progression in two drug trials, failing to draw level with a recent development success by rivals Biogen (BIIB.O) and Eisai (4523.T). Within each study, volunteers were randomly assigned to receive either the injectable antibody drug gantenerumab or a placebo. The quest to develop an Alzheimer's drug, targeting beta-amyloid or other molecules, has been beset by a long list of study failures. But rival Biogen in September scored a surprise trial success with an experimental Alzheimer's drug that it developed with Eisai, rebuilding confidence among industry executives and researchers in the beta-amyloid approach. Schwan earlier this year sought to curb expectations for the Graduate trials but the head of Roche's pharma unit last month acknowledged that Biogen's success with lecanemab had reignited hopes.

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