Roche reports positive early results for obesity candidate
Confirming progress on its $2.7 billion bet to get into the weight management sector, Swiss pharma giant Roche (ROG: SIX) today released positive results from the Phase I clinical trial of CT-388, a dual GLP-1/GIP receptor agonist being developed for the treatment of obesity and type 2 diabetes that came with its acquisition last year of Carmot Therapeutics.
Roche’s shares gained as much as 4.7% on Thursday and were still up 3.6% at 235.60 Swiss francs by late afternoon.
Roche is one of the latest companies that are increasingly seeking to cash in on the rapidly-expanding market for obesity drugs, which has seen GLP-1 agonist Wegovy (semaglutide)-maker Novo Nordisk (NOV: N) become the most valuable company in Europe. But the Danish firm is already facing strong competition from US major Eli Lilly (NYSE: LLY), whose obesity drug Zepbound (tirzepatide) is making big waves in the sector.
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