Roche shares rise as experimental obesity drug moves to late-stage trial
Shares in Roche Holding (ROG.S) rose about 2% on Monday, outperforming a largely unchanged European healthcare index, after the Swiss drugmaker announced it is advancing its experimental obesity drug, CT-388, to a late-stage clinical trial.
Roche acquired the drug candidate in late 2023 through its purchase of U.S. biotech firm Carmot Therapeutics, marking its first major push to challenge the dominant weight-loss drug makers Novo Nordisk and Eli Lilly. The company’s shares previously jumped nearly 5% following early-stage trial results showing CT-388 led to significant weight loss, News.Az reports, citing Reuters.
The announcement came during an investor day in London, where Teresa Graham, head of Roche’s pharmaceutical division, highlighted the company’s ambitions in the obesity drug market. “Our goal is to become a Top 3 player in the obesity drug market, and I want you to know I’m serious about this goal,” Graham said. She emphasized Roche’s track record of entering new therapeutic areas with competitive drugs that became blockbusters, aiming for a strong market entry by 2030.
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