ImmunoGen watched its shares fall by 50% when partner Roche revealed disappointing results for the pair's targeted cancer drug, casting doubts on the biotech's technology for creating armed antibodies.
Roche has been charting promising numbers for its standout breast cancer drugs Kadcyla and Perjeta. But now the next-gen duo has failed to beat Herceptin and chemo in a late-stage study, putting a damper on Roche's plan to expand the market for its new drugs and sending its shares into a downward spiral.
Yet another big Phase III test of an experimental Alzheimer's drug has flopped. And this time it's Roche's turn to admit defeat.
Roche is betting big on antibodies that can attack two targets at once, signing on to buy Austria's Dutalys for as much as $488.8 million and get its hands on some proprietary technology.
Roche got a green light from U.S. regulatory authorities to expand the use of two tests from its cobas assay line used to detect serious viral infections like HIV, hepatitis B and C and West Nile.
Roche has launched the Laboratory-in-a-tube technology it acquired when it bought iQuum in April for $275 million up front and up to $175 million in milestone payments. Roche is making the system available in the U.S. and Europe.
Roche's Lucentis may now have a bigger jump on Eylea in diabetic retinopathy. The Swiss drugmaker's Genentech unit won the FDA's "breakthrough" designation for that indication on Monday. And Lucentis was already on the FDA's priority review track, with a decision date in February.
Partners Roche and Exelixis are making their case to regulators with a melanoma-treating combination therapy, filing an FDA application for the fast-tracked treatment as they await European clearance.
Having shepherded Genentech's R&D operations through the takeover by Roche, Richard Scheller will retire at the end of 2014. Roche has lined up Michael Varney, Genentech's head of small molecule drug discovery, to replace Scheller.
Roche snatched up AvanSci Bio's tissue dissection technology for the analysis of tumors, diversifying its product offerings and continuing its molecular diagnostics push.