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July 29, 2020, 7:25 a.m. EDT

Roche's rheumatoid arthritis drug fails in COVID-19 trial

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By Jaimy Lee

Shares of Roche Holding AG /zigman2/quotes/206324342/delayed CH:ROG +0.95% were up 0.4% in premarket trading on Wednesday after the drugmaker said its rheumatoid arthritis drug Actemra failed in a late-stage clinical trial as a treatment for hospitalized COVID-19 patients. The therapy did not meet the study's primary or secondary endpoints. There was no difference in the number of patients who died by week four among those taking Actemra or placebo, though the company said Actemra may speed up recovery times for hospitalized patients, a finding that needs further analysis. "We are disappointed that [the study] did not demonstrate a benefit for patients in either clinical status or mortality at week four," Dr. Levi Garraway, Roche's chief medical officer, said in a news release. The global, randomized, double-blind, placebo-controlled phase 3 trial was conducted with the Biomedical Advanced Research and Development Authority. Earlier this year there was hope that rheumatoid arthritis drugs could serve as possible treatments for COVID-19 patients; however, Regeneron Pharmaceuticals Inc.'s /zigman2/quotes/203149337/composite REGN +0.86% and Sanofi's /zigman2/quotes/201967021/composite SNY +0.16% RA drug Kevzara also had some limitations treating these patients in a recent mid-stage COVID-19 trial. Roche's stock is up 10.4% year-to-date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.41% is down 0.3%.

/zigman2/quotes/206324342/delayed
CH : Switzerland: SWX
CHF 308.95
+2.90 +0.95%
Volume: 1.25M
April 14, 2021 5:31p
P/E Ratio
18.70
Dividend Yield
2.95%
Market Cap
CHF263.49 billion
Rev. per Employee
CHF574,809
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/zigman2/quotes/203149337/composite
US : U.S.: Nasdaq
$ 481.16
+4.12 +0.86%
Volume: 595,625
April 14, 2021 4:00p
P/E Ratio
15.69
Dividend Yield
N/A
Market Cap
$51.11 billion
Rev. per Employee
$931,393
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/zigman2/quotes/201967021/composite
US : U.S.: Nasdaq
$ 50.24
+0.08 +0.16%
Volume: 1.10M
April 14, 2021 4:00p
P/E Ratio
9.17
Dividend Yield
2.69%
Market Cap
$125.39 billion
Rev. per Employee
$413,288
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/zigman2/quotes/210599714/realtime
US : S&P US
4,124.66
-16.93 -0.41%
Volume: 2.09B
April 14, 2021 5:15p
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