Q3 2024 Roche Holding AG Corporate Sales Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Emily Field - Barclays Bank - Analyst : I will ask two. The first is on Vabysmo. I was just wondering if you are expecting any impact from the at-risk launch of Amgen's biosimilar EYLEA to impact dynamics in the United States. Do you expect this to impact your share of switches? And then on Tecentriq, I believe on the media call this morning, there was a headline noting that you had said that sales had peaked. Consensus does have this franchise continuing to grow for the next few years. So I was just wondering if you could provide a bit more context for those comments. Should we think about Tecentriq as flat, declining? Any additional color would be helpful. Teresa Graham - Roche Holding AG - Member of the Corporate Executive Committee, Chief Executive Officer of Roche Pharmaceuticals Sure. So starting with your first question on the Amgen biosimilar launch of EYLEA, so let's just remember the dynamics of this market to begin with. So the ophthalmology market has been about 50% generic biosimilar with Avastin and Lucentis biosimilars available. We would expect that the dynamic will continue to play out. We are not anticipating to see any material impact to Vabysmo's growth trajectory with EYLEA biosimilars entering. We have a highly differentiated product and one that offers, I think, a very compelling benefit to patients. So I think we would expect that 50-50 dynamic to continue to be the case. We are not seeing any payers at this juncture implement biosimilar step-throughs. And so we remain quite confident in the future growth potential for Vabysmo. Regarding Tecentriq, so I think my comments this morning were that we actually expect Tecentriq to continue to grow low single digits for the next year or so. We are starting to reach peak in some of our indications. Right now, I think consensus is something like CHF4.3 billion for Tecentriq. That's pretty close to what our own internal estimates are as well. The place where I think we are beginning to feel the competitive pressure, we've said this before, is adjuvant lung in the US. We are actually quite holding our own here right at the moment. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 23, 2024 / 12:00PM, ROG.S - Q3 2024 Roche Holding AG Corporate Sales Call So I don't think that we should assume that Tecentriq has already peaked. I think there will continue to be growth. And this is pretty consistent with the messages that we've been delivering for the last couple of quarters.