At the J.P. Morgan Healthcare Conference 2026, Roche Pharma CEO Teresa Graham outlined the company’s priorities for the coming years: maximise the on-market portfolio to sustain growth through 2028, deliver key product launches in 2026, and prepare broad entry into novel disease areas such as Alzheimer’s and obesity via new molecular entities.
Roche said it remains on track to meet its 2025 financial goal, reporting year-to-date sales through September 2025 of CHF 35.6 billion ($44.5 billion), with CHF 18.0 billion ($22.5 billion) from its oncology and haematology portfolio. The marketed portfolio continues to expand, with 17 drugs classified as blockbusters.
The company highlighted strengths across oncology and haematology, citing its breast cancer franchise (Phesgo, Kadcyla, Perjeta, Itovebi), solid tumour immunotherapy Tecentriq, diffuse large B-cell lymphoma treatments Polivy and Columvi/Lunsumio, and haemophilia A therapy Hemlibra.
Graham emphasised Roche’s use of partnerships and acquisitions to build and accelerate its pipeline, noting that roughly 60 percent of the R&D pipeline and total drug sales involve partnerships. Roche expects filings for up to three new molecular entities in 2026.
Oncology development is centred on giredestrant, a next-generation selective oestrogen receptor degrader in Phase III for early and metastatic ER-positive breast cancer. A giredestrant plus everolimus application is in pre-registration with the US Food and Drug Administration, and a European Medicines Agency filing is expected in 2026. Roche positions giredestrant as a potential replacement for standard endocrine therapy and as a candidate for combination with PI3K/AKT/mTOR pathway inhibitors.
Giredestrant is supported by a small-molecule portfolio targeting key signalling nodes, including PI3K inhibitor Itovebi, CDK4/2 inhibitor GDC-4198 to address resistance mechanisms to CDK4/6 inhibitors, and brain-penetrant HER2 tyrosine kinase inhibitor ZN-1041. Phase III readouts expected in 2026 include giredestrant plus palbociclib (first-line ER+/HER2- metastatic breast cancer, persevERA), Itovebi with fulvestrant (post-CDKi HR+ metastatic breast cancer, INAVO121), and Itovebi with Phesgo in PIK3CA-mutant HER2+ metastatic breast cancer (INAVO122).
Analyst consensus from GlobalData projects giredestrant sales of about $1.7 billion in 2031. The oral SERD field is highly competitive: AstraZeneca’s camizestrant is in pre-registration with an expected 2031 forecast of $1.8 billion, and palazestrant from Olema Pharmaceuticals is in Phase III with an estimated $1.3 billion in 2031. Roche said clinical differentiation and in-house combination strategies will be crucial to secure a leading position in the HER2-/HR+ segment.
Other regulatory milestones expected in 2026 include a US decision on the Lunsumio plus Polivy combination for DLBCL. Key clinical readouts next year include Phase III results for KRAS G12C inhibitor divarasib in non-small cell lung cancer (KRASCENDO 1) and Lunsumio label expansion into earlier lines of treatment in follicular lymphoma (CELESTIMO).
In haemophilia A, Roche highlighted NXT007, a Phase II bispecific antibody licensed from Chugai Pharmaceutical, as a potential blockbuster; GlobalData projects sales of about $760 million in 2031.
Graham expressed confidence in Roche’s ability to sustain growth through 2028 on the strength of its marketed products, upcoming 2026 launches and anticipated Phase III readouts, and a pipeline of potentially first-in-class or best-in-class medicines across oncology, haematology, immunology, neurology and ophthalmology. Roche also aims to be a top-three player in obesity, planning five NMEs in 2026 that continue to iterate on the incretin pathway and explore novel mechanisms of action.
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