E Global Investing: Oh Cannabis

Its cancer drugs Perjeta, Alecensa, and Tecentriq grew sales faster than other drugs which had lost sales, like Rituxan and Tarceva, older meds.

By country, the US saw the most significant rise, to 41% of drug sales from under 39%. US sales increased 14% y/y to date. All other regions registered a lower proportion of sales including Europe, down 8%. It confirmed its earlier forecasts that profits would move in the same direction as sales, which I could have guessed, mid-single digits and a higher payout of dividends in Swiss francs.

It will payback a billion CHF of bonds with new issues of CHF 2.3 bn. It expects to gain from the US tax cuts last year and—critically--expects exchange rates to remain low-impact for the rest of 2018.

To help reach the profits it won't spell out, Roche is giving the chop to some of its pipeline according to Nick Paul Taylor of fiercepharma.com blog, notably RG6125 for rheumatoid arthritis which was in phase II. It paid $105 mn upfront for the drug to Adheron Therapeutics which also expected milestones. It is also cutting jobs in Switzerland and possibly in regional offices, but CEO Severin Schwab did not confirm manning level cuts here in the conference call.

*Teva fell 3.4% at the opening because it did not get Express Scripts coverage for its new migraine drug Ajovy. The pharma benefits management intermediary negotiates with drugmakers to get price discounts it pockets, and TEVA didn't offer a big enough metziah (Hebr: bargain.)

*Minnesota's Attorney General is examining possible price-fixing in insulin by companies taking advantage of medical insurance for diabetics. Among those targeted I Danish Novo Nordisk. NVO is an unlikely culprit because it is controlled by a non-profit and is very dependent on diabetic meds. It began trails of Ozempic (together with Anthem) in comparison with other diabetes drugs today.


*The latest revelations of Saudi Arabian horrors means that it is unlikely to cooperate with the US to keep down prices after problems in Venezuela and a crackdown against Iran. So oil will cost more, despite the President's support of Prince Mohammed Bone Surgeon's version of what happened to Khashoggi.

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Howie Sandberg 10 months ago Member's comment

Nice, hard to find any info on $EYPT, which I've been interested in for a while.

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