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On Wednesday, Roche Holdings AG (OTC:RHHBY) released its third-quarter sales report. Sales increased 9% year over year to 15.14 billion Swiss francs (~$17.5 billion).
The company’s pharmaceuticals division reported sales of 11.62 billion Swiss francs.
Roche’s top-performing asset was the multiple sclerosis drug Ocrevus; sales increased 11% to 1.69 billion Swiss francs.
Sales of Vabysmo, an age-related macular degeneration (AMD) treatment, surged 59% year over year to 1.02 billion Swiss francs.
Roche reiterated its business outlook, with the growth of around mid-single digits in group sales and the high-single-digit range for core earnings-per-share.
The European drugmaker axed a mid-stage chronic cough program, RG6341.
Roche also axed a Phase 3 trial for divarasib in the second-line treatment of non-small cell lung cancer (NSCLC) and started a separate Phase 3 trial in NSCLC.
The company also removed Phase 2 trials for RG6416 (bepranemab) for Alzheimer’s, RG6139 tobemstomig monotherapy + combos for solid tumors, and RG7854/ RG6346/ RG6084 ruzotolimod/xalnesiran/PDL1 LNA for HBV infection.
Reuters noted that Roche is urging regulatory authorities to block Novo Holdings’ proposed $16.5 billion acquisition of CDMO giant Catalent Inc (NYSE:CTLT), arguing that the deal would have wide-ranging negative effects on the industry.
Novo Holdings is the controlling shareholder of Novo Nordisk A/S (NYSE:NVO).
Last week, a coalition of unions, consumer groups, and public interest organizations wrote a letter to Lina Khan, Chair of the Federal Trade Commission (FTC), voicing strong opposition to the acquisition of Catalent.
In the lawsuit, the coalition contended that although Novo and Eli Lilly are currently the only two competitors in the GLP-1 market, several other pharmaceutical and biotech companies—such as Viking Therapeutics Inc (NASDAQ:VKTX), Structure Therapeutics Inc (NASDAQ:GPCR), Amgen Inc (NASDAQ:AMGN), Sun Pharma, Pfizer Inc (NYSE:PFE), Roche, and AstraZeneca Plc (NASDAQ:AZN)—have GLP-1 therapies in development.
These companies will require a CDMO partner to support the launch of their products in the coming years. Catalent is currently the only CDMO with significant experience collaborating with GLP-1 manufacturers.
Roche told Reuters that it is not directly impacted.
Reuters, citing Roche’s CEO Thomas Schinecker during a media call, highlights that limiting competition in this field would not be wise.
It adds that regulators could be making a mistake from an industry perspective. Schinecker elaborated in an analyst call that if companies start acquiring contract manufacturing organizations, market competition could decline.
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