Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: Well pleased now to be joined by the CEO of Roach,
Speaker 2: Thomas Shineka Thomas, good morning, Thank you for your time.
Speaker 2: One of the biggest challenges for the business right now
Speaker 2: is it the generics or the swissy.
Speaker 3: So actually, if you look at our growth rate in
Speaker 3: the first quarter, we are growing six percent in constant
Speaker 3: change rates and it's seven percent even on the pharmer side.
Speaker 3: So of course if you look at Swiss Franks, the
Speaker 3: number looks different. However, Swiss Frank also appreciate it means
Speaker 3: it's worth a lot more. If we look into our
Speaker 3: sales growth in US dollars, we're at plus nine percent.
Speaker 3: We have most of our business in the US, but
Speaker 3: also we have most of our debts and most of
Speaker 3: our spending in the US. For example, just recently we
Speaker 3: did an M and A deal in the United States.
Speaker 4: So I see that very relaxed from that.
Speaker 3: Perspective, because you know, we have a very good headch
Speaker 3: across the regions. Because there is also where I was
Speaker 3: spending years.
Speaker 2: All on very relatively in terms of in.
Speaker 3: Terms of your point on on biosimilar in the first quarter,
Speaker 3: I think the biosimilar effect was almost non existent. So
Speaker 3: I don't know what you mean with all the products.
Speaker 2: Okay, your relatively relaxed about that, about the currency effects,
Speaker 2: and it seemingly as well the biosimilars talk to us
Speaker 2: about the impact. Are you seeing any impact at all
Speaker 2: as a result of the geopolitics as a result of
Speaker 2: the war in Iran? On supply chains, on access to
Speaker 2: two inputs? Do you expect how to put up prices?
Speaker 2: What is what is the impact on Rosa's results of
Speaker 2: the uncertainty we're seeing in the Middle East.
Speaker 3: So as a company and to a certain parts of
Speaker 3: probably as an industry, we're less impacted by the conflict.
Speaker 4: Enemy is the one.
Speaker 3: The reason is that your energy efficient in the.
Speaker 1: Don't okay, I think we're seeing some slight issues when
Speaker 1: it comes to the microphone. We were just talking about
Speaker 1: your breast cancer treatment, Durrodestra, which I hope I'm not
Speaker 1: mispronouncing the data that came out in March. The stock
Speaker 1: took a significant hit off the back of that, and
Speaker 1: the consensus appeared to be that this drug, which was
Speaker 1: expected to be a blockbuster, may no longer be the
Speaker 1: kind of blockbuster the market had anticipated. Is that the
Speaker 1: correct interpretation of the data.
Speaker 3: Well, if you look across different analyst reports, you will
Speaker 3: see that the majority actually continues to see it as
Speaker 3: a major blockbuster. And why is that the case. We
Speaker 3: had a very strong data in the LIDERA trial that's
Speaker 3: an adjurbent trial, so early setting. And in this early setting,
Speaker 3: this medicine actually reduced to the risk for death or
Speaker 3: reoccurrence of the disease for more than thirty percent.
Speaker 4: And this is just the beginning.
Speaker 3: And in this setting, most of the patients are diagnosed
Speaker 3: actually early, and it takes the medicine for quite a
Speaker 3: long time. So more than seventy percent of the potential
Speaker 3: of this medicine is actually in the setting.
Speaker 4: And if you look at it, this is the first.
Speaker 3: New hormone treatment since more than twenty years, very tolerable,
Speaker 3: so you know this is going to be one of
Speaker 3: our biggest medicines.
Speaker 1: So why do you so do you think that March
Speaker 1: reaction was an overreaction because the stock dropped really quite
Speaker 1: significantly off the back of it.
Speaker 3: Look, let's let's see we are accelerating the approval. We
Speaker 3: are actually looking towards an approval towards the end of
Speaker 3: the year, and we see a lot of potential in
Speaker 3: the medicine, and let's see how it goes. We're comfortable
Speaker 3: with where we are.
Speaker 5: You're comfortable with there you are. You say it's one
Speaker 5: of your going to be one of your best selling medicines, Thomas,
Speaker 5: I wonder how it compares to something like her sceptin then,
Speaker 5: which reached peak sales from around seven big dollars. Can
Speaker 5: you give us any any more clarity about your expectations
Speaker 5: for this one.
Speaker 4: Yeah, it's a very good question.
Speaker 3: So if you look at her septum her sceptam, about
Speaker 3: fifteen percent of all breast cancer patients have heard two
Speaker 3: positive breast cancers, so these are the patients that would
Speaker 3: get such a medicine. When you look at hormone receptor
Speaker 3: positive breast cancer, it's seventy percent of all patients have
Speaker 3: hormone receptor positive breast cancer, so it's a multiple higher.
Speaker 3: And of those the majority are diagnosed in yadrin setting
Speaker 3: about against seventy percent. So you can see that the
Speaker 3: potential to reach many more patients than with her sceptin
Speaker 3: is very clear.
Speaker 5: Okay, so that's the expectation, and this is going to
Speaker 5: be one of the first drugs that you launch under
Speaker 5: new expectations in the United States around most favored nation status.
Speaker 5: Course means that you'll have to price it in the
Speaker 5: US no higher than the lowest price offered incomparable countries.
Speaker 5: So what is your pricing strategy going to be for
Speaker 5: this medicine.
Speaker 3: So we are working very quickly with the FDA to
Speaker 3: get this medicine approved in the United States. And usually
Speaker 3: if you look even prior to the situation that we're
Speaker 3: in now, in the US, we always got approval about
Speaker 3: one year ahead of any other countries in the world.
Speaker 3: So the US was extremely fast here to give access
Speaker 3: to these medicines to patients. And so that means we
Speaker 3: probably have another year and a half to two years
Speaker 3: to see how that will be answered across the other countries.
Speaker 2: Thomas, if other European countries or European nations don't match
Speaker 2: the US pricing, would you withhold the drug?
Speaker 3: You know, we are a company that wants to give
Speaker 3: access to all patients who need these medicines, and a
Speaker 3: clear goal is to give access to patients also in
Speaker 3: these countries. But clearly we'll have a discussion on the
Speaker 3: value of the medicine. I mean, this is a significant
Speaker 3: benefit to patients, thirty percent improvement versus the standard of care,
Speaker 3: much better, tolerable, and so you know, we are having
Speaker 3: those discussions already, but again we have about one and
Speaker 3: a half to maybe two years until this medicine will
Speaker 3: be launched in those countries.
Speaker 1: Thoms is always a pleasure to catch up. Thank you
Speaker 1: very much and d for sharing some of your valuable
Speaker 1: time with us this morning. The Roach CEO Thomas Schineker
Speaker 1: joining us after the results from that company