Roche's Bold Move: Aiming to Topple Giants in the Obesity Drug Market
Roche's shares rose by 2% following news of its experimental obesity drug CT-388 advancing to late-stage trials. Acquired through the purchase of Carmot Therapeutics, Roche aims to challenge industry leaders in the weight-loss drug sector. The company's goal is to become a major player by 2030.
Roche Holding saw its shares climb approximately 2% on Monday, outperforming the generally stable European healthcare index. The pharmaceutical giant announced its experimental obesity drug, CT-388, is moving into a late-stage clinical trial.
The Swiss company made headlines when it acquired the drug candidate in late 2023, following its acquisition of the U.S. biotech firm, Carmot Therapeutics. This move marked Roche's first significant attempt to rival predominant weight-loss drug manufacturers like Novo Nordisk and Eli Lilly. A nearly 5% surge in Roche shares was observed after releasing early-stage trial results of CT-388, which indicated significant weight loss effects.
During an investor day in London, Roche's pharmaceutical division head, Teresa Graham, emphasized the company's ambition to become a leading force in the lucrative obesity drug industry, aspiring to establish a strong market presence by 2030. Graham affirmed Roche's commitment to reaching a top-three position in the obesity drug market, leveraging its history of entering new therapeutic areas with effective, blockbuster drugs.
(With inputs from agencies.)
Google News