Roche "Key takeaways from the 2026 Diagnostics Day" (Buy) Weston

研报英文原文证据摘录

Roche "Key takeaways from the 2026 Diagnostics Day" (Buy) Weston

Global Research

12 May 2026ab

Roche Equities

SwitzerlandKey takeaways from the 2026 Diagnostics Day

Pharmaceuticals

12-month rating Buy

Qualitative expectations for mid-term Pharma growth raised

Group CEO Thomas Schinecker opened the session with a reiteration of Roche Group's 12m price target CHF376.00

10-year ambition for innovation and financial delivery. Dr Schinecker also raised the

qualitative expectations for mid-term Pharma growth and now expects on-market and

Price (12 May 2026) CHF319.40

late-stage pipeline to drive strong growth to 2030+ vs previous expectations to ‘offset

patent expiries’. Roche has optimised (pipeline assets -20%) and added to the Pharma RIC: ROPC.S BBG: ROP SW

pipeline, with pipeline NPV at the all-time highest value (63% increase vs 2022, by

Trading data and key metrics

company calculation), with significant increases in average peak sales per pipeline asset

52-wk range CHF374.00-246.30

and assets with 'best in disease' potential. Roche aims to prioritise diseases with the

highest societal burden to provide solutions for patients and to reduce healthcare system Market cap. CHF255b/US$327b

cost. Diagnostics has also made significant progress with a number of key blockbuster Shares o/s 689m (ORD)

launches shortly entering the market. Recent acquisitions also build portfolio in near- Free float 98%

patient testing, early detection and increasing the AI/technology interface with Avg. daily volume ('000) 1,066

diagnostics. Growth test opportunities in Diagnostics include DNA sequencing, Lp(a), Avg. daily value (m) CHF351.9

pTau testing and near-patient STI testing. Common s/h equity (12/26E) CHF33.3b

P/BV (12/26E) 7.6x