ZURICH (dpa-AFX Broker) – A setback in drug development weighed on the shares of the pharmaceutical company Roche on Tuesday. In a pivotal study, the Elevidys gene therapy did not show the desired effectiveness in patients suffering from the inherited muscle disease Duchenne muscular dystrophy (DMD). Shares fell around 3 percent in the morning.
Analysts are disappointed in their initial reactions, but at the same time they point out that the study was previously considered to be rather risky. As Stefan Schneider from Bank Vontobel wrote, the main goal was not achieved, but this was not completely unexpected.
JPMorgan analyst Richard Vosser explained in an initial reaction that a further phase III study would probably be necessary for possible approval in the EU in this case./hr/tv/AWP/mis
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