0822 GMT - News that Roche's breast-cancer drug giredestrant didn't meet the primary objective of a late-stage study for breast cancer came as a surprise after two earlier studies for the same drug showed positive results, Vontobel's Stefan Schneider says in a research note. Vontobel says it estimated 2 billion Swiss francs in peak sales for the indication covered by the trial, with an 80% probability of success. This was the first of two phase 3 studies for giredestrant as a first-line treatment for breast cancer. Vontobel removes expected sales from the two from its models as it awaits results from the other trial, due next year, the analyst says. Vontobel also reduces its target price for the Swiss drugmaker to 346 francs from 356 francs. Shares fall 5.4% to 322.70 francs. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
March 09, 2026 04:23 ET (08:23 GMT)
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