Roche pipeline overhaul hits 20% of new molecules

24 Apr 2024
firstwordpharma.com
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Roche has cut 20% of new molecular entities from its pipeline since the third quarter of last year as it overhauls its portfolio to focus on “high-impact” projects. CEO Thomas Schinecker noted Wednesday alongside the company’s first quarter financial results that the terminated assets, which include three cancer drugs, were not innovative enough.
The executive indicated that the gaps in its pipeline will be filled with external drugs. “We are open for M&A,” Schinecker said, with a focus on areas including cardiovascular and metabolism disorders, neuroscience and oncology. “Based on whether or not the deal makes sense, then we are also open to doing larger acquisitions,” he added.
Oncology assets cut in the first quarter by Roche comprise Repare Therapeutics’ camonsertib – already announced in February – along with belvarafenib in solid tumours and RG6286 in colorectal cancer. The company has also recently backed away from a number of oncology collaborations, including one with HOOKIPA Pharma on arenaviral immunotherapy for KRAS-mutated cancers and another with Adaptimmune Therapeutics to develop T-cell therapies for cancer.
Other drugs to face the chop in the first quarter include the LepB inhibitor RG6319 for urinary tract infections and RG6163 in psychiatric disorders. “Doubts around R&D productivity will take time to lift,” Jefferies analysts Peter Welford and Lucy Codrington noted.
COVID impact over
Roche’s first-quarter revenue slipped 6% to CHF 14.4 billion ($), with sales of prescription drugs falling by the same percentage to CHF 10.9 billion. Schinecker explained that “the appreciation of the Swiss franc versus most currencies impacted sales,” which would have risen by 2% on a constant exchange rate (CER) basis.
The company reaffirmed that revenue and core earnings per share will both increase in the mid-single-digit range on a CER basis. Roche noted that for the remainder of the year, “there will be no further material impact of COVID-19 sales decline.”
More to come.
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