Roche: ROP CEO call: Bullish on Breast Cancer, Multiple Sclerosis and Obesity, into a run of proof points

Research evidence excerpt

Roche: ROP CEO call: Bullish on Breast Cancer, Multiple Sclerosis and Obesity, into a run of proof points

company's ADA meeting on June 9th, 4pm UKT.

•• ROP see the broader late-stage pipeline under-appreciated by the market, noting

readout of up to 19 new medicines from 2027-30, in particular calling out the FGF21 for

MASH, tronti for Alzheimer's, NXT007 for Haemophilia, prasi for Parkinson's, enice for

Obesity, zile for hypertension and afimkibart in IBD. TS noted that beyond the market's

focus on gire SERD and fene BTK, ROP has guided to Phase 3 results for up to 19 new

medicines by the end of the decade. Particular assets called out included:

°° afimkibart TL1A in Irritable Bowel Syndrome (>SFr3 peak, filing in 2027), called out as the

most exciting immunology readout, noting the very strong Phase 2 data.

°° pegozafermin FGF21 in MASH (>SFr3 peak, filing in 2028).

°° trontinemab brain shuttle Amyloid mab in Alzheimer’s disease (>SFr3 peak, filing in 2028),

seen as most de-risked neurology readout in the 2027-30 lineup.

°° NXT007 IX/X bispecific for Haemophilia (>SFr3 peak, filing in 2028).

°° prasinezumab alpha-synuclein in Parkinson’s disease (>SFr3 peak, filing 2029 or beyond),

seen as high risk/high reward.

°° enicepatide GLP-1/GIP in obesity (part of >SFr3 peak franchise, P3 initiating this year, filing

2028).

°° zilebesiran siRNA for AGT for uncontrolled hypertension(>SFr3 peak, filing 2029 or beyond).

•• Diagnostics: CEO reiterated MSD-HSD% growth ambition and highlighted nanopore

sequencer contribution, expected to become a material growth driver within the next

12-18m. Diagnostics growth is expected to mainly be driven by the on-market portfolio and

three key launch pillars: mass spectrometry, CGM and SBX sequencing (i.e. the new Nanopore

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