Core Insights - AstraZeneca PLC and Daiichi Sankyo received FDA approval for Enhertu as a first-line treatment for HER2-positive breast cancer, in combination with Roche's Perjeta [2][7] - The approval is based on the DESTINY-Breast09 study, which showed a significant improvement in progression-free survival (PFS) [5][8] - AstraZeneca will pay Daiichi Sankyo a $150 million milestone payment following this approval [3][7] Regulatory Approval - Enhertu was reviewed under the FDA's real-time oncology review (RTOR) program [3] - The drug is already approved in over 85 countries for second-line treatment of HER2-positive breast cancer and for other cancers [3] Clinical Study Results - The DESTINY-Breast09 study demonstrated a median PFS of 40.7 months for the Enhertu-Perjeta combination, compared to 26.9 months for the standard regimen [5][8] - The combination reduced the risk of disease progression by 44% compared to the current standard treatment [5][7] Market Performance - Over the past year, AstraZeneca's shares increased by 36.3%, outperforming the industry average rise of 12.1% [4]

3. 武田银屑病新药试验告捷，2026 年冲刺 FDA 获批 武田制药的口服 TYK2 抑制剂 zasocitinib（一款有望对标百时美施贵宝 Sotyktu 的药物），在中重度斑 块状银屑病的两项 III 期试验中表现优异。用药 16 周后，该药在医生整体评估达标率、银屑病面积严重 程度改善 75% 以上两项关键指标上，均显著优于安慰剂。武田计划 2026 年向 FDA 提交获批申请。 （来源：抗体圈） 2025 年 12 月 19 日，《亚洲医药快报》（Fierce Pharma Asia）发布年度最后一期行业周报，聚焦制药 领域关键进展：第一三共（Daiichi Sankyo）两款抗体偶联药物（ADC）迎来一喜一忧，武田 （Takeda）银屑病新药试验成功，同时行业并购、跨国合作及政策变动多点开花。以下是核心信息的通 俗解读： 1. 乳腺癌新药组合获批，十年首破治疗格局 阿斯利康与第一三共合作的 Enhertu，联合罗氏的 Perjeta，获美国 FDA 批准成为 HER2 阳性转移性乳腺 癌的一线新疗法 —— 这是该领域十多年来首个新一线治疗方案。临床试验显示，该组合比传统 THP 疗 法降低 44 ...

Key Takeaways Enhertu-Perjeta gets FDA nod as first-line option for unresectable or metastatic HER2-positive breast cancer.Phase III DESTINY-Breast09 showed PFS of 40.7 months vs 26.7 months, reducing progression risk by 44%.Following approval, Daiichi is entitled to receive a $150 million milestone under the Enhertu collaboration.AstraZeneca PLC (AZN) and its Japan-based partner Daiichi Sankyo announced that the FDA has approved their blockbuster antibody-drug conjugate (ADC), Enhertu, for first-line use i ...

Core Insights - Roche announced positive interim analysis data for giredestrant, a next-generation SERD, in its late-stage breast cancer study, indicating significant efficacy in reducing disease recurrence risk [1][3][10] Study Results - The phase III lidERA Breast Cancer study showed that giredestrant treatment reduced the risk of invasive disease recurrence or death by 30% compared to standard-of-care endocrine therapy [3][7] - At the three-year mark, 92.4% of patients treated with giredestrant were alive and free of invasive disease, compared to 89.6% on standard care [5][7] - The therapy also demonstrated a 31% reduction in distant recurrence-free interval, with safety profiles remaining manageable [5][7] Market Performance - Following the announcement of the positive data, Roche's shares increased by 3.6% [3] - Over the past year, Roche's shares have risen by 41.7%, significantly outperforming the industry growth of 7.2% [6] Competitive Landscape - Giredestrant is the first oral SERD to show superior invasive disease-free survival in the adjuvant setting, building on previous positive outcomes from the evERA Breast Cancer study [10] - Roche's breast cancer franchise includes established products like Herceptin, Perjeta, and Kadcyla, with recent approvals enhancing its portfolio [11][12] Ongoing Development - Roche is conducting an extensive clinical development program for giredestrant across five phase III studies, targeting multiple treatment settings and lines of therapy [13]

Core Insights - Roche (RHHBY) announced positive interim results from the late-stage lidERA Breast Cancer study for giredestrant, a next-generation selective estrogen receptor degrader (SERD) [1][4] - Giredestrant showed a statistically significant and clinically meaningful benefit over standard endocrine therapy in patients with ER-positive, HER2-negative breast cancer [5][8] Study Details - The lidERA study is a phase III, randomized, open-label trial involving approximately 4,100 patients with medium- or high-risk stage I-III ER-positive, HER2-negative breast cancer [2][3] - The primary endpoint is invasive disease-free survival (iDFS), with key secondary endpoints including overall survival and safety [3] Results and Implications - The study met its primary endpoint, demonstrating a significant improvement in iDFS with giredestrant compared to standard therapy, marking it as the first SERD trial to show such benefit in the adjuvant setting [4][8] - Although overall survival data were immature at the interim analysis, a positive trend was observed, indicating giredestrant's potential as a new treatment option for early-stage breast cancer patients [5] Roche's Breast Cancer Franchise - Roche's breast cancer portfolio includes Herceptin, Perjeta, and Kadcyla, with Kadcyla performing well due to increased demand from patients with residual disease [7] - The approval of the fixed-dose combination of Perjeta and Herceptin as Phesgo has further strengthened Roche's position in the market [7] - Roche's shares have increased by 27.8% year-to-date, outperforming the industry growth of 14.3% [7] Future Developments - Roche is conducting an extensive clinical development program for giredestrant across five phase III trials in various treatment settings [10] - The approval of inavolisib for breast cancer treatment has also bolstered Roche's franchise, indicating ongoing innovation in their product offerings [9]

Core Insights - Roche Holding AG reported third-quarter sales of CHF 14.9 billion for 2025, reflecting a 6% year-over-year increase at constant exchange rates, driven by strong demand for its drugs [1] - For the first nine months of 2025, total sales reached CHF 45.9 billion, up 7% at constant exchange rates, with the Pharmaceuticals Division growing 9% to CHF 35.5 billion [2][8] - The Diagnostics Division's sales totaled CHF 10.3 billion, up 1%, as demand for pathology solutions and molecular diagnostics offset the impact of healthcare pricing reforms in China [3] Pharmaceuticals Division Performance - Key drugs such as Phesgo, Xolair, Hemlibra, Vabysmo, and Ocrevus generated total sales of CHF 15.8 billion, an increase of CHF 2.4 billion at constant exchange rates compared to the first nine months of 2024 [4] - Ocrevus sales reached CHF 5.2 billion, up 7%, while Hemlibra surged 12% to CHF 3.5 billion, and Vabysmo grew 13% to CHF 3 billion [5] - Xolair sales increased by 34% to CHF 2.2 billion, and Phesgo's sales skyrocketed 54% to CHF 1.8 billion [9] Diagnostics Division Performance - The Diagnostics Division's sales were CHF 10.3 billion, with growth driven by pathology solutions and molecular diagnostics [3] Financial Outlook - Roche expects total sales to grow in the mid-single-digit range at constant exchange rates for 2025, with core earnings per share projected to grow in the high single-digit to low double-digit range [12] Pipeline Developments - The FDA approved label expansions for Gazyva/Gazyvaro and Tecentriq, enhancing Roche's treatment options [13] - Positive results from the phase III evERA study on giredestrant for breast cancer were announced, showing significant reductions in disease progression risk [14] - Roche plans to acquire 89bio, Inc. for $3.5 billion to enhance its portfolio in cardiovascular, renal, and metabolic diseases [15] Competitive Landscape - Roche's drugs, particularly Vabysmo and Hemlibra, have shown strong performance, competing effectively against other market players [17][18]

Core Insights - AstraZeneca (AZN) and Daiichi Sankyo's FDA acceptance of a supplemental biologics license application (sBLA) for Enhertu aims to expand its label for treating HER2-positive breast cancer [1][7] - The sBLA is based on positive results from the phase III DESTINY-Breast09 study, which showed Enhertu combined with Roche's Perjeta significantly improved progression-free survival (PFS) and objective response rate (ORR) compared to standard treatments [3][4] Group 1: FDA Approval and Study Results - The FDA has granted priority review for the sBLA, reducing the review period by four months, with a final decision expected in Q1 2026 [2] - The DESTINY-Breast09 study demonstrated a median PFS of nearly 41 months for the Enhertu-Perjeta combination, compared to about 27 months for the standard taxane chemotherapy with Herceptin and Perjeta [3][7] - The Enhertu-Perjeta regimen achieved an ORR of 85.1%, surpassing the 78.6% ORR of the standard treatment [4][7] Group 2: Market Potential and Strategic Importance - Enhertu is already approved in over 85 countries for second-line HER2-positive breast cancer treatment and has additional approvals for lung and gastric cancers [5] - Both Enhertu and Datroway are projected to achieve peak annual sales of at least $5 billion, contributing to AstraZeneca's goal of reaching $80 billion in annual revenues by 2030 [10] - The partnership between AstraZeneca and Daiichi Sankyo involves joint development and marketing responsibilities, with Daiichi retaining exclusive rights in Japan [9] Group 3: Competitive Landscape - ADCs are viewed as disruptive innovations in cancer treatment, allowing targeted delivery of cytotoxic drugs to tumors [11] - Daiichi Sankyo is developing several ADCs across various cancers and has a partnership with Merck for additional ADCs, indicating a competitive landscape with significant revenue potential [12] - Pfizer's acquisition of Seagen for $43 billion highlights the growing interest in the ADC space, with multiple ADCs contributing to its revenue [13]

Core Viewpoint - Roche's Phesgo® has received a positive opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) for an update to its EU label, allowing for at-home administration by healthcare professionals for HER2-positive breast cancer treatment, pending final approval from the European Commission [1][2]. Group 1: Product and Treatment Benefits - Phesgo is a subcutaneous fixed-dose combination of Perjeta® (pertuzumab) and Herceptin® (trastuzumab) designed for treating early-stage and metastatic HER2-positive breast cancer [3][4]. - The administration of Phesgo can be completed in approximately eight minutes, significantly faster than the hours required for intravenous (IV) administration [4]. - The switch from IV to Phesgo has shown to reduce treatment administration costs by up to 80% in Western Europe, with 85% of patients preferring subcutaneous (SC) over IV administration [5][2]. Group 2: Socioeconomic Impact - The socioeconomic burden of HER2-positive breast cancer was nearly $590 billion from 2017 to 2023, projected to rise to nearly $1,000 billion by 2032 [2]. - Roche's HER2-positive breast cancer medicines contributed a cumulative $8.2 billion to economic growth across ten major economies between 2017 and 2023 [6]. Group 3: Patient Preferences and Quality of Life - Data indicates that 91% of patients favor at-home administration over in-clinic treatment, which aligns with the introduction of Phesgo [2]. - At-home treatment options like Phesgo can alleviate pressure on healthcare systems and improve patients' quality of life by reducing hospital visits and associated anxieties [2][5].

Core Viewpoint - Roche's Phesgo® has received a positive opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) for an update to its EU label, allowing for at-home administration by healthcare professionals for HER2-positive breast cancer treatment, pending final approval from the European Commission [1][3]. Group 1: Product and Treatment Impact - Phesgo is a subcutaneous fixed-dose combination of Perjeta® (pertuzumab) and Herceptin® (trastuzumab) for treating HER2-positive breast cancer, already approved in over 120 countries [4][5]. - The treatment can reduce administration costs by up to 80% in Western Europe, with 85% of patients preferring subcutaneous (SC) administration over intravenous (IV) [4][7]. - At-home treatment aligns with patient preferences, as 91% favor this method over in-clinic administration, potentially improving quality of life and reducing healthcare system burdens [3][7]. Group 2: Socioeconomic Burden and Future Projections - The socioeconomic burden of HER2-positive breast cancer in ten major economies was nearly $590 billion from 2017 to 2023, projected to rise to nearly $1,000 billion by 2032 [3]. - Roche's HER2-positive breast cancer medicines contributed a cumulative $8.2 billion to economic growth across ten major economies between 2017 and 2023 [9]. Group 3: Clinical Evidence and Safety - The CHMP's positive opinion is supported by clinical, real-world, and bioequivalence data, demonstrating the feasibility and safety of Phesgo's at-home administration [3][7]. - Clinical studies indicate that Phesgo can be administered in approximately eight minutes, significantly faster than standard IV administration, which can take hours [6].