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.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze