Roche rises after positive obesity drug trial results
** Shares in Roche ROG.S rise 6.8% after the company reported positive early results in CT-966 obesity drug trial
** It said in a statement that treatment with CT-996 in participants with obesity and without type 2 diabetes resulted in a "clinically meaningful placebo-adjusted mean weight loss of -6.1% within four weeks"
** "These early data suggest a competitive profile, in our view, but from a small cohort and details needed, likely at Obesity Week, 3-6 Nov," Jefferies analysts say in a note
** The brokerage adds that it still has "lingering commercial questions" regarding the Swiss company entering cardio-metabolic disease, but a competitive oral GLP-1 on the back of robust GLP-1/GIP injectable data is encouraging
** Roche is among a growing number of would-be rivals to Novo Nordisk NOVOb.CO and Eli Lilly LLY.N, whose weight-loss drugs have caused a storm in demand as experts up their sales forecasts for such treatments to as much as $150 billion by the early 2030s
** Novo Nordisk NOVOb.CO shares are down 2.3%
Reporting by Paolo Laudani
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
