Roche shares rise as company advances experimental obesity drug to late

(Reuters) -Shares in Roche Holding rose around 2% on Monday, outperforming a broadly unchanged European healthcare index, as the drugmaker said it was advancing its experimental obesity drug CT-388 to a late-stage clinical trial.

Roche acquired this drug candidate in late 2023 when it acquired U.S. biotech firm Carmot Therapeutics in its first major bid to challenge the dominant makers of weight-loss drugs Novo Nordisk and Eli Lilly. Roche shares jumped nearly 5% when it reported results from an early-stage trial of this drug showing it led to significant weight loss.

The Swiss drugmaker was presenting an update on its obesity drugs pipeline at an investor day in London. Roche’s pharmaceutical division head Teresa Graham told investors that the company aims to become a major player in th