|
 The study met its primary aim of showing progression-free survival
in patients with previously untreated BRAF V600 mutation-positive
advanced melanoma, Roche said.
Adding Tecentriq, a monoclonal antibody, to Cotellic and Zelboraf
helped reduce the risk of disease worsening or death compared to
administering a placebo plus Cotellic and Zelboraf."By combining a
cancer immunotherapy with targeted therapies, we hope to offer a new
approach that improves outcomes for people with advanced, BRAF-mutant
melanoma," said Levi Garraway, Roche's chief medical officer and
head of product development.
Roche has an extensive clinical trial development program for
Tecentriq, with more than 50 studies for use in fighting lung,
kidney, skin, breast, colorectal, prostate, ovarian, bladder, blood,
liver and head and neck cancers.
Tecentriq immunotherapy mixed with chemotherapy won U.S. approval
this month as an initial treatment for a form of lung cancer as
Roche seeks to establish its alternative to drugs from Merck and
Bristol-Myers Squibb.
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Roche shares were indicated 1.5% higher in pre-stock market
activity. They closed on Thursday at 302.35 francs.
Bank Vontobel analyst Stefan Schneider said that until now he had
not included projected revenue from this new therapy in Roche
models.
"Following today's news, we reduce risk-adjustment on our peak sales
estimates of 423 million Swiss francs ($424 million)to 40%,
increasing our price target to 334 francs from 332," he said in a
note to clients, keeping his "buy" recommendation on the stock.
($1 = 0.9972 Swiss francs)
(Reporting by Michael Shields; Editing by Susan Fenton)
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