Roche: Update to our model following discontinuation of taselisib
Roche: (NEUTRAL, Fair Value CHF260 vs. CHF275 (+21%))Update to our model following discontinuation of taselisib
We are updating our model after ASCO, mainly to adjust for taselisib’s failure and its discontinuation by the group after disappointing results in phase III but also to moderate our estimates on Tecentriq after a comparison of reported data between IMpower131 and KEYNOTE-407 studies in patients with squamous cell NSCLC. Our FV declines from CHF275 to CHF260. We keep a NEUTRAL rating
Roche Holding is a healthcare company. Co. operates in two Divisions, Pharmaceuticals and Diagnostics. Co.'s pharmaceuticals division is comprised of two business segments Roche Pharmaceuticals and Chugai. Co.'s pharmaceuticals division provides therapies including Cotellic, in combination with Zelboraf for advanced melanoma, and Alecensa for a specific type of lung cancer. Co.'s diagnostics division consists of four business areas: Diabetes Care, Molecular Diagnostics, Professional Diagnostics and Tissue Diagnostics. Co.'s diagnostics division provides in vitro diagnostic tests, used by healthcare providers to screen, diagnose and monitor therapies.
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