Roche Holding AG Part. Cert.

Roche Holding is a healthcare company. Co. operates in two Divisions, Pharmaceuticals and Diagnostics. Co.'s pharmaceuticals division is comprised of two business segments Roche Pharmaceuticals and Chugai. Co.'s pharmaceuticals division provides therapies including Cotellic, in combination with Zelboraf for advanced melanoma, and Alecensa for a specific type of lung cancer. Co.'s diagnostics division consists of four business areas: Diabetes Care, Molecular Diagnostics, Professional Diagnostics and Tissue Diagnostics. Co.'s diagnostics division provides in vitro diagnostic tests, used by healthcare providers to screen, diagnose and monitor therapies.
  • TickerROG
  • ISINCH0012032048
  • ExchangeSix Swiss Exchange
  • SectorPharmaceuticals & Biotechnology
  • CountrySwitzerland

Analysts

ROCHE HOLDING AG receives a double requalification that leads to a downgrade to Neutral

ROCHE HOLDING AG (CH), a company active in the Pharmaceuticals industry, sees its general evaluation downgraded to Neutral on account of a double requalification. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour has also deteriorated and is evaluated as moderately risky. theScreener believes that the loss of a star(s) and the increased risk justifies the general evaluation downgrade, which passes to Neutral. As of the analysis date March 8, 2019, the closing price was CHF 269.80 and its expected value was est...

Roche Holding AG - December 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Karen Andersen

Morningstar | Maintaining Our Roche FVE Following Spark Deal; Fair Price to Expand Hemophilia Portfolio

Roche will acquire gene therapy firm Spark Therapeutics for $4.3 billion in a deal that not only adds to Roche's hemophilia portfolio but also gives access to gene therapy technology for use in other therapeutic areas, including ophthalmology, neurology, and other rare genetic diseases. Roche's tender offer of $114.50 in cash per share represents a 122% premium to Spark's closing price as of Feb. 22, and the deal is expected to close in the second quarter. Overall, we think Roche is paying a fair price for Spark, and we're not making any changes to our $42/CHF 333 fair value estimates for Roch...

Karen Andersen

Maintaining Our Roche FVE Following Spark Deal; Fair Price to Expand Hemophilia Portfolio

Roche will acquire gene therapy firm Spark Therapeutics for $4.3 billion in a deal that not only adds to Roche's hemophilia portfolio but also gives access to gene therapy technology for use in other therapeutic areas, including ophthalmology, neurology, and other rare genetic diseases. Roche's tender offer of $114.50 in cash per share represents a 122% premium to Spark's closing price as of Feb. 22, and the deal is expected to close in the second quarter. Overall, we think Roche is paying a fai...

Roche Holding AG: $4.8 billion acquisition of Spark will have limited impact on credit metrics, but does not come without risks

Credit implications of Roche's acquisition of Spark Therapeutics

Jean-Jacques Le Fur

Roche: Positive OS for Tecentriq in ES-SCLC (IMpower 133) after the disappointment in NSCLC

Brief Comment - Roche: (NEUTRAL, Fair Value CHF266 (+14%)) Positive OS for Tecentriq in ES-SCLC (IMpower 133) after the disappointment in NSCLC

Roche Holding AG - December 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Roche Holding AG: $4.8 billion acquisition of Spark will have limited impact on credit metrics, but does not come without risks

Credit implications of Roche's acquisition of Spark Therapeutics

Roche Holding AG: Update to credit analysis

Our credit view of Roche Holding AG, reflecting its very strong financial profile, driven by sales growth from new products, which will offset a large upcoming patent cliff.

Roche Holding AG - June 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Roche Holding AG: Update to discussion of key credit factors

Our credit view of Roche reflects a very strong financial profile and pharmaceutical pipeline offsetting a large upcoming patent cliff.

Karen Andersen

Morningstar | Maintaining Our Roche FVE Following Spark Deal; Fair Price to Expand Hemophilia Portfolio

Roche will acquire gene therapy firm Spark Therapeutics for $4.3 billion in a deal that not only adds to Roche's hemophilia portfolio but also gives access to gene therapy technology for use in other therapeutic areas, including ophthalmology, neurology, and other rare genetic diseases. Roche's tender offer of $114.50 in cash per share represents a 122% premium to Spark's closing price as of Feb. 22, and the deal is expected to close in the second quarter. Overall, we think Roche is paying a fair price for Spark, and we're not making any changes to our $42/CHF 333 fair value estimates for Roch...

Karen Andersen

Maintaining Our Roche FVE Following Spark Deal; Fair Price to Expand Hemophilia Portfolio

Roche will acquire gene therapy firm Spark Therapeutics for $4.3 billion in a deal that not only adds to Roche's hemophilia portfolio but also gives access to gene therapy technology for use in other therapeutic areas, including ophthalmology, neurology, and other rare genetic diseases. Roche's tender offer of $114.50 in cash per share represents a 122% premium to Spark's closing price as of Feb. 22, and the deal is expected to close in the second quarter. Overall, we think Roche is paying a fai...

Martial Descoutures ...
  • Pierre Corby

Roche Holding : Roche is making sparks: Acquisition of Spark – Gene therapy

>Acquisition of Spark Therapeutics for $ 4.3bn - The Wall Street Journal had been right during the weekend (speculation), Roche announced this morning the acquisition of Spark Therapeutics for $ 4.3bn. Spark is a public Philadelphia-based US biotech that specialises in gene therapies for rare diseases (including blindness, haemophilia, lysosomal overload diseases and neurodegenerative diseases). Spark already markets a gene therapy, LUXTURNA for patients with a rare d...

Martial Descoutures ...
  • Pierre Corby

Roche Holding : Roche fait des étincelles : acquisition de Spark (thérapie génique)

>Acquisition de Spark Therapeutics pour 4.3 Md$ - Le WSJ avait vu juste pendant le week-end end (rumeurs), Roche annonce ce matin l’acquisition de Spark Therapeutics pour 4.3 Md$. Spark est une biotech US publique basée à Philadelphie et spécialisée dans les thérapies géniques contre les maladies rares (et notamment cécité, hémophilie, maladies de surcharge lysosomale et maladies neurodégénératives). Spark commercialise déjà une thérapie génique, le LUXTURNA pour les ...

Karen Andersen

Morningstar | ROG Updated Forecasts and Estimates from 31 Jan 2019

We're maintaining our Roche fair value estimate of CHF 333 per nonvoting share and $42 per ADR following a particularly strong fourth quarter and solid guidance for 2019 despite increasing biosimilar threats. While shares reacted positively to the news, we continue to believe that the market underappreciates the ability of the firm's pipeline and newer marketed drugs to offset biosimilar headwinds. Management's guidance for 2019 for low- to mid-single-digit top-line growth, similar core EPS growth, and a higher proposed dividend align with our view that the firm's wide moat protects cash flows...

Alexandre Iatrides ...
  • Alfred Glaser
  • Bruno Cavalier
  • Delphine Brault
  • Emira Sagaama
  • François Maury
  • Georges Dieng
  • Johanna Jourdain
  • Laurence Hofmann
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Pierre Corby
  • Sven Edelfelt
  • Sylvain Goyon
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/25/2019

Equities’ disconnect from the "pessimism" of the bond markets is obvious. The simultaneous choice of cyclicals and protection themes (growth/quality) is disturbing. What should we do when our annual objectives are being met? Avoid succumbing to the cyclical temptation, buy quality by avoiding overpaying the protection criterion linked exclusively to a healthy balance sheet structure. We present the results of a screening combining balance sheet and ROCE trends, which highlights five s...

Alexandre Iatrides ...
  • Alfred Glaser
  • Bruno Cavalier
  • Delphine Brault
  • Emira Sagaama
  • François Maury
  • Georges Dieng
  • Johanna Jourdain
  • Laurence Hofmann
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Pierre Corby
  • Sven Edelfelt
  • Sylvain Goyon
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/02/2019

La déconnection des actions avec le « pessimisme » des marchés obligataires est patente. Le plébiscite simultané des cycliques et des thématiques de protection (croissance/ qualité) est perturbant. Que faire alors que nos objectifs annuels sont atteints ? Eviter de succomber à la tentation cyclique, acheter la qualité en évitant de surpayer le critère protection lié uniquement à une structure bilancielle saine. Nous présentons les résultats d’un criblage combinant bilan et évolution d...

Alexandre Iatrides ...
  • Alfred Glaser
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Louis Boujard
  • Martial Descoutures
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Rémi Adam
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/31/2019

This report assesses the consequences for BMW and Daimler of a “possible” scenario: an increase in US tariffs on imports from Europe (from 2.5% to 15%) and a decline in Chinese tariffs (from 25% to 15% irrespective of the origin). We estimate: i) the impact on EBIT at -€ 1.2bn for both, i.e. respectively 15% and 10%, and ii) the impact on the valuation at -€ 13.9bn and -€ 14.9bn, which are impressive figures but not realistic. Any increase in US tariffs would result in the relocation ...

Alexandre Iatrides ...
  • Alfred Glaser
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Louis Boujard
  • Martial Descoutures
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Rémi Adam
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 31/01/2019

...

Ahmed Ben Salem ...
  • Jean-Baptiste Rouphael
  • Jerôme Bodin
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Corby
  • Stephane Houri
  • Sven Edelfelt
  • Team Pharma
  • Valentin Pernet
  • Veysel Taze
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 12/14/2018

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ROCHE HOLDING AG receives a double requalification that leads to a downgrade to Neutral

ROCHE HOLDING AG (CH), a company active in the Pharmaceuticals industry, sees its general evaluation downgraded to Neutral on account of a double requalification. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour has also deteriorated and is evaluated as moderately risky. theScreener believes that the loss of a star(s) and the increased risk justifies the general evaluation downgrade, which passes to Neutral. As of the analysis date March 8, 2019, the closing price was CHF 269.80 and its expected value was est...

Nurhayati Wan

Roche Holdings

Nurhayati Wan

Roche Holdings

Nurhayati Wan

Roche Holdings

Nurhayati Wan

Roche Holdings

Eric Le Berrigaud

Pharmaceuticals | ESMO 2018: Sequencing Was the Key Word

We synthesise here the main take-away messages from the annual ESMO congress which took place in Munich in October. We present the conclusions in sections organised by organ with three main parts: renal-cell carcinoma (RCC), breast cancer (BC) and lung cancer (NSCLC) with non-uniform levels of innovation and progress. The last section is dedicated to head & neck cancer with encouraging updated data on monatuximab/cetuxima

Roche Holding – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Roche - March, 05th 2019

ITEMS 2.1, 2.2, 7 and 8 - Binding votes on the remuneration of the board of directors  and the executive management. Ethos has the following concerns over the amounts requested:  The annual bonuses that will effectively be paid out to the chairman and the CEO are significantly higher than the amounts requested at the general meeting. The remuneration of the non-executive chairman is significantly higher than that of the peer group and includes an annual bonus. For the executive management, the remuneration is significantly higher than that of the peer group and the remuneration structure is n...

Valérie GASTALDY

Analyse court terme - ROCHE HOLDING AG : Les cours progressent encore.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 243,70 CHF. La rupture du support à 206,50 CHF invaliderait cette tendance.

Valérie GASTALDY

Short term view - ROCHE HOLDING AG : Prices are still making progress

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at CHF 243.70. Breaking below the support at CHF 206.50 would invalidate the trend.

Valérie GASTALDY

Analyse court terme - ROCHE HOLDING AG : Les cours progressent encore.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 243,70 CHF. La rupture du support à 206,50 CHF invaliderait cette tendance.

Valérie GASTALDY

Short term view - ROCHE HOLDING AG : Prices are still making progress

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at CHF 243.70. Breaking below the support at CHF 206.50 would invalidate the trend.

Valérie GASTALDY

Medium term view - ROCHE HOLDING AG : The recent fall is getting more vigorous.

The trend is bullish. The recent fall is getting more vigorous. The next support is at CHF 203.60. A break below CHF 203.60 would challenge the trend.

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