Berenberg: Roche's Pharma Day Expected to Highlight Breast Cancer Drugs, Among Others

11:45 AM EDT, 09/23/2026 (MT Newswires) -- Berenberg expects cyclin-dependent kinase inhibitors for breast cancer treatment to be among Roche's (RO.SW) focus areas at its Sept. 28 Pharma Day investor event. "With giredestrant on track for approval in adjuvant breast cancer by year end, we expect Roche to outline its pipeline plans with CDK inhibitors. Our peak sales forecast for giredestrant is USD10bn and requires just c25% of patients to be treated for an average of 4 years at USD60,000/year," the research firm said in a note published Wednesday. "Recent data on the B7-H3 ADC from MediLink (tam-peli) in small cell lung cancer (China trial) are likely to be profiled with plans for global trials. Positive divarasib (KRAS lung) data are due at ESMO and positive Lunsumio (follicular lymphoma) data are likely at ASH. We also expect progress in myeloma and with cell therapy." Other upcoming key pipeline catalysts for the Swiss drugmaker include the sefaxersen (Factor B) late-stage data in IgA nephropathy due in 2026, as well as decisions from the US Food and Drug Administration on giredestrant in adjuvant and second-line-plus breast cancer due in November and December, respectively. "In our recent 'Return on R&D Investment' analysis, the improvement in Roche R&D returns is evident with the 2026 pipeline on track to deliver 10% (sector 9%) versus Roche's historic average 9% (sector 11%). Roche's valuation reflects this improved pipeline outlook," analysts added. The stock is rated hold, with a price target of 350 francs.