April 21, 2021 07:31 AM EDT
PharmaCoronavirus
Roche sees a slight dip in Q1 as biosimilars keep biting into blockbuster oncology trio's sales
Max Gelman
Associate Editor
With Roche facing a fast decline for its oncology blockbuster trio amid a biosimilar onslaught, the drug giant is looking anywhere it can for a pick-me-up. That boost could come from Covid-19 diagnostics, the drugmaker said in a first-quarter update — but will it be enough?
The testing division saw a marked 55% increase in sales, Roche executives said on an earnings call with analysts Wednesday, offsetting a slumping pharmaceuticals sector which pulled in 9% less than the same three-month period in 2020. Included in that increase is Roche’s rapid Covid-19 antigen test, as well as research for its real-time PCR test to help monitor coronavirus mutations.
Roche said that the pandemic and the emergence of biosimilars were the main contributors to the sales hit, seeing significant competition to the MabThera/Rituxan, Avastin and Herceptin franchises. Sales went down 14% in the US, though some of the decline was offset by newer approvals in Evrysdi, Ocrevus, Hemlibra and Tecentriq.
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