Once tapped as the future belle of the ball due to its deep pipeline of potential add-on/combo oncology therapies, Roche (OTCQX:RHHBY) has continued to lag rivals like Merck (MRK)
as investors grow more concerned that Roche's PD-L1 antibody Tecentriq
will have trouble standing out from the crowd and become yet another
disappointing offset to looming biosimilar erosion.
It's
still early (a familiar fallback position for disappointed bulls), but
Roche really needs strong data to close the gap with Merck's Keytruda,
even if it is at least in part a perception gap. Roche could also really
use another blockbuster or two from its pipeline, particularly one that
doesn't have abundant competition. Although I continue to believe that
the market is not giving Roche its due, the reality, for now, is that
looming biosimilar-driven revenue erosion is a hard cloud for Roche to
get out from under and it is likely to take time for perceptions to
shift.
Read more here:
Roche Drifting Without Perception-Changing Data
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