Roche (RHHBY) announced positive results from the phase III study, IMELDA, on breast cancer drug Avastin.
The results from the study showed that the combination of Avastin and Xeloda as a maintenance treatment following the initial induction treatment with Avastin-based therapy has resulted in clinically meaningful gains in overall survival (OS) and progression-free survival (PFS) in women suffering from HER2-negative metastatic breast cancer as compared to Avastin alone. Consequently, the study met its primary endpoint.
Meanwhile, the results from the second phase III study, TANIA, revealed that women who received Avastin plus standard chemotherapy as initial treatment and then continued with Avastin plus chemotherapy after their disease had progressed (in the second-line setting) showed better PFS rates compared with chemotherapy alone. This study has also met its primary endpoint.
Roche expects to present full results from both the studies later in the month.
We note that Avastin is approved in Europe for the treatment of advanced stages of breast cancer, colorectal cancer, non-small cell lung cancer, kidney cancer and ovarian cancer. It is approved in the U.S. for the treatment of colorectal cancer, non-small cell lung cancer, kidney cancer and cervical cancer.
However, Avastin is not yet approved in the EU for the second-line treatment of patients suffering from metastatic breast cancer.
We note that Avastin is one of the leading drugs in Roche’s portfolio. Avastin generated sales of CHF 3.1 billion in the first half of 2014. The expansion of Avastin's label for further indications should boost Roche’s sales.
Roche currently carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the broader health care sector include Johnson & Johnson (JNJ), Shire (SHPG) and Bristol-Myers Squibb (BMY). While Shire carries a Zacks Rank #1 (Strong Buy), the other two stocks carry a Zacks Rank #2 (Buy).
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