Roche Holding Ltd. (ADR)(OTCMKTS:RHHBY) was a notable move during Monday’s trading session, ending the session higher by close to 0.5% on the back of above average volumes. The stock currently is facing resistance near its 50 day moving average. Traders believe only a move above the resistance zone would point towards a reversal. The momentum oscillators continue to trend lower indicative of the strong sell side pressure. The stock currently has formed support near the $32.45 level. The relative strength index continues to show signs of weakness, which is a bearish signal. It is important to state that the stock has broken below an important trend-line support.
Roche Holding Ltd. (ADR)(OTCMKTS:RHHBY) has provided updates to all the investors about its late stage pipeline during a recent event in London. As per the reports, Roche also talked about the investigational medicines for asthma, eye disease, haemophilia and cancer.
Roche expects seven read-outs from the present and upcoming trials in these areas. The senior management team of Roche is delighted to provide these updates and hopes that things will continue to roll out as per the expectations in the future as well. According to Daniel O’Day, COO – Pharmaceutical Division, Roche, company’s continued leadership position in Oncology is driven by its diversified late-stage portfolio.
The next stage for Roche is to expand in ophthalmology and immunology segments and gain expertise to offer world-class treatments to people suffering from haemophilia and multiple sclerosis. Roche is also looking forward to harnessing increment in the molecular information as the next step to develop at a wide level and offer personalized treatments.
Restructuring Manufacturing Network
Roche Holding also looks forward to restructuring its manufacturing network for small molecules. The change in manufacturing capabilities is likely to address the shift in the industry due to next-generation medicines.
As part of its restructuring program, the company has decided to four sites, including Leganes in Spain, Clarecastle in Ireland, Segrate in Italy, and Florence in the United States. Due to this decision, about 1200 people are likely to lose their jobs. It’s actively looking for different disinvestment opportunities to minimize the impact of the job cut.
It plans to invest as much as 300 million Swiss francs in a new facility located in Kaiseraugst, Switzerland. As per the reports, Roche will manufacture a new generation of specialized medicine line, fully based on small molecules, at this new facility. Market experts claim that this investment will help the company strengthen its launch and development capabilities.