Core Insights - Roche faced a setback in developing a higher dose of its multiple sclerosis drug Ocrevus, as the phase III MUSETTE study did not meet its primary endpoint [1][5] - The higher dose did not demonstrate additional benefits in slowing disability progression compared to the currently approved 600 mg dose [2][5] - Despite this, Roche's shares have increased by 15.2% year to date, outperforming the industry growth of 1.6% [2] Company Performance - Ocrevus generated sales of $6.7 billion in 2024, reflecting a 9% year-over-year increase, and is one of Roche's top growth drivers [6] - Roche's overall performance in 2024 was bolstered by high demand for key drugs, including Vabysmo and Hemlibra, which offset declines in legacy drug sales [7] - The company launched two new drugs in 2024 and received FDA approval for TNKase, a thrombolytic agent for acute ischemic stroke [8] Future Outlook - Roche anticipates total sales growth in the mid-single-digit range at constant exchange rates (CER) for 2025, with core earnings per share expected to grow in the high single-digit range [9] - The company expects a negative impact on sales of CHF 1.2 billion in 2025 due to the loss of exclusivity for key drugs [8]
Roche's Higher Dose of Ocrevus Fails to Meet Goal in RMS Study