Roche shares fall after breast cancer drug fails trial
Shares in Roche dropped more than 5% on March 9 after the Swiss pharmaceutical company announced that its experimental oral breast cancer drug giredestrant failed to show effectiveness in newly diagnosed patients.
A phase III trial found that combining giredestrant with Pfizer’s Ibrance did not significantly slow disease progression compared with standard hormonal therapy plus Ibrance. The stock hit its lowest level in about a month, down 5.1% at 0846 GMT, News.Az reports, citing Reuters.
This setback contrasts with previous success: last year, giredestrant reduced the risk of tumor recurrence in breast cancer patients after standard initial treatment, which had boosted Roche’s stock.
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Giredestrant is part of a class of drugs known as oral selective estrogen receptor degraders (SERDs), designed to target tumors that grow in response to estrogen, accounting for up to 80% of breast cancer cases. Competitors, including AstraZeneca, are also developing rival SERD drugs, such as camizestrant.
By Aysel Mammadzada
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