We are not boosting our estimate despite the recent news that Roche will re-open the trials for its experimental drug gantenerumab, which was being tested to treat Alzheimer’s disease, the most common form of dementia with a growing patient base and no cure. The reasons are simple. First, the decision is based on recent study results announced by Biogen. The company was testing a similar drug targeting the beta amyloid protein. Although the data are promising, the study is based on a small sample size. Second, almost 70% of Roche’s value comes from oncology drugs and diagnostics business, which means that the company’s competitive advantage lies elsewhere and not neurology. In fact, we estimate that neuroscience drugs constitute less than 5% to its value.
Source Forbes - Markets http://ift.tt/1LaYbpS
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