Roche Holding AG will push for a more productive pipeline of new medicines as a new management team seeks to learn the lessons from recent research setbacks.
The company will try to move fast on high-risk, high-reward projects, Chief Executive Officer Thomas Schinecker said at a meeting with analysts and investors in London. Roche will also seek deals, he said, looking at potential targets that are already in human trials, typically a pricier class of assets.
The new CEO, who took over in March, is facing the loss of billions of dollars of revenue from Covid-19 tests and treatments even as sales from a trio of cancer medicines that long powered growth continue to erode. At the same time, Roche has had an unusual number of clinical-trial stumbles, including high-profile projects in cancer and Alzheimer’s disease.
As it sought new avenues of growth, Roche embarked on too many large late-stage trials — known in the industry as phase 3 tests — without having some run smaller studies to further probe the medicines, the CEO said. In particular in immune oncology, “there was a push to go directly into phase 3 in order to catch up,” he said.
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