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MarketScreener Homepage  >  Equities  >  Xetra  >  Bayer AG    BAYN   DE000BAY0017

BAYER AG

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Roche pushes late-comer Tecentriq as new liver cancer option

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10/21/2019 | 04:28am EST
FILE PHOTO: Swiss drugmaker Roche's logo is seen at their headquarters in Basel

ZURICH (Reuters) - Roche's Tecentriq mixed with Avastin helped liver cancer patients live longer, a boost to the Swiss drugmaker's strategy of expanding its late-to-the-game immunotherapy into niche areas not yet dominated by rivals.

Roche said on Monday it will submit overall and progression-free survival data in hepatocellular carcinoma to U.S., European and Chinese regulators in hopes of a speedy approval. The study compared Tecentriq and Avastin with sorafenib, the generic name for Bayer's Nexavar.

Tecentriq's revenue, while growing, pales in comparison to Keytruda from Merck and Opdivo from Bristol-Myers Squibb, doctors' go-to immunotherapies for lucrative areas such as non-small cell lung cancer.

But Roche's drug is gaining a foothold against smaller targets including triple-negative breast cancer, where it has a head start on its competitors.

The combination is "the first treatment in more than a decade to improve overall survival in people with unresectable hepatocellular carcinoma who have not received prior systemic therapy", said Levi Garraway, Roche's new chief medical officer, without disclosing the specific survival benefit for Tecentriq and Avastin.

Roche emphasised the importance of approval in China, where some studies show liver cancer's prevalence is higher than elsewhere and which may account for 50% of annual new cases globally.

Roche's Chinese sales have accelerated this year, rising more than 50% through the first three quarters and underpinning the company's move last week to lift its 2019 outlook again.

"This is an opportunity for Roche to continue its expansion in Asia, and especially in China," Zuercher Kantonalbank analyst Michael Nawrath said in a note to investors.

(Reporting by John Miller; Editing by Michael Shields)

By John Miller

Stocks mentioned in the article
ChangeLast1st jan.
BAYER AG 1.01% 71.01 Delayed Quote.16.00%
MERCK AND COMPANY -0.91% 84.13 Delayed Quote.10.10%
MERCK KGAA 0.23% 108.4 Delayed Quote.20.19%
MERCK LTD 1.45% 4353.85 End-of-day quote.38.22%
ROCHE HOLDING AG 0.77% 302.4 Delayed Quote.21.63%
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Financials (EUR)
Sales 2019 44 389 M
EBIT 2019 7 658 M
Net income 2019 2 929 M
Debt 2019 36 647 M
Yield 2019 4,05%
P/E ratio 2019 22,3x
P/E ratio 2020 13,3x
EV / Sales2019 2,30x
EV / Sales2020 2,10x
Capitalization 65 515 M
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Number of Analysts 28
Average target price 80,44  €
Last Close Price 70,25  €
Spread / Highest target 75,1%
Spread / Average Target 14,5%
Spread / Lowest Target -44,8%
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Managers
NameTitle
Werner Baumann Chairman-Management Board
Werner Wenning Chairman-Supervisory Board
Wolfgang U. Nickl Chief Financial Officer
Katharina Jansen Head-Science & Research
Hartmut Klusik Head-Human Resources, Technology & Sustainability
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NOVARTIS19.39%204 533