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Roche to Create Companion Diagnostic Test for Merck's Keytruda
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Roche (RHHBY - Free Report) has collaborated with Merck (MRK - Free Report) for developing a companion diagnostic test, which will identify patients for treatment with the latter’s blockbuster immuno-oncology drug, Keytruda, based on the status of a biomarker in advanced solid tumors. The test will mainly detect mismatch repair deficiency (dMMR) in solid tumors across all cancer indications.
Roche also has plans to gain approval from the FDA for biomarker panel, which is expected to provide an option for standardized predictive testing of dMMR.
We remind investors that in May 2017 Keytruda was approved by the FDA for the treatment of unresectable or metastatic, microsatellite instability-high or mismatch repair deficient solid tumors in adults and pediatric patients whose disease progressed after prior treatment.
Shares of Roche have gained 19.2% in the past six months compared with the industry’s increase of 12.3%.
We remind investors that Roche completely acquired U.S.-based Foundation Medicine for $2.4 billion earlier this year. Foundation Medicine offers comprehensive genomic profiling assays to identify molecular alterations in a patient's cancer and match them with targeted therapies, immunotherapies and clinical trials. This acquisition was targeted to boost Roche’s prospect in the companion diagnostic test market.
In September, Roche completed the development of a blood test from Foundation Medicine’s pipeline, which will help to identify genetic mutation due to solid tumors from patient’s blood. The acquisition will also help Roche to generate collaboration revenues as pharma companies use diagnostic test to identify patients for clinical studies. Moreover, the company is entering into deals with other companies to develop new diagnostic test for other cancer indications including Incyte Corporation (INCY - Free Report) .
Bristol-Myers’ earnings per share estimates increased from $3.64 to $3.87 for 2018 over the past 60 days. Estimates for 2019 are also up by 14 cents.
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Roche to Create Companion Diagnostic Test for Merck's Keytruda
Roche (RHHBY - Free Report) has collaborated with Merck (MRK - Free Report) for developing a companion diagnostic test, which will identify patients for treatment with the latter’s blockbuster immuno-oncology drug, Keytruda, based on the status of a biomarker in advanced solid tumors. The test will mainly detect mismatch repair deficiency (dMMR) in solid tumors across all cancer indications.
Roche also has plans to gain approval from the FDA for biomarker panel, which is expected to provide an option for standardized predictive testing of dMMR.
We remind investors that in May 2017 Keytruda was approved by the FDA for the treatment of unresectable or metastatic, microsatellite instability-high or mismatch repair deficient solid tumors in adults and pediatric patients whose disease progressed after prior treatment.
Shares of Roche have gained 19.2% in the past six months compared with the industry’s increase of 12.3%.
We remind investors that Roche completely acquired U.S.-based Foundation Medicine for $2.4 billion earlier this year. Foundation Medicine offers comprehensive genomic profiling assays to identify molecular alterations in a patient's cancer and match them with targeted therapies, immunotherapies and clinical trials. This acquisition was targeted to boost Roche’s prospect in the companion diagnostic test market.
In September, Roche completed the development of a blood test from Foundation Medicine’s pipeline, which will help to identify genetic mutation due to solid tumors from patient’s blood. The acquisition will also help Roche to generate collaboration revenues as pharma companies use diagnostic test to identify patients for clinical studies. Moreover, the company is entering into deals with other companies to develop new diagnostic test for other cancer indications including Incyte Corporation (INCY - Free Report) .
Roche Holding AG Price
Roche Holding AG Price | Roche Holding AG Quote
Zacks Rank & Other Stock to Consider
Roche currently has a Zacks Rank #2 (Buy). Another well-positioned stock in the healthcare sector is Bristol-Myers Squibb Company (BMY - Free Report) , which also carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Bristol-Myers’ earnings per share estimates increased from $3.64 to $3.87 for 2018 over the past 60 days. Estimates for 2019 are also up by 14 cents.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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