How This Multibillion-Dollar Company Is Shaking Off the Competition
Swiss pharmaceutical company Roche (OTC: RHHBY) has underperformed the stock market over the past five years as it has grappled with the loss of patent exclusivity on three top-selling drugs. The company hopes to reverse the trend with a bunch of new product launches and a more diversified portfolio. Last week's earnings release shows some positive signs for the company going forward.
Five years ago, Roche had a monopoly on three major monoclonal antibody treatments for different types of cancer -- Avastin, Herceptin, and Rituxan. In 2017, these three medicines combined to generate almost half of Roche's total revenue.
Since then, all three have seen sales slide as patent protection expired and biosimilars entered the market. In the first half of 2022, sales for the three drugs declined by 16% to 29%, and management forecasts that these drugs will bring in $2.6 billion less this year compared to last year.
Source Fool.com
