Roche Holding AG, the Swiss healthcare giant left investors disappointed this morning on news of mediocre results in a large breast cancer treatment trial.
The company have combined two existing drugs to provide a more effective treatment and attempt to defend market share in this space however the data only pointed to marginal improvements. The stock has fallen over 4% in trading this morning in Zurich, moving from 264.85CHF to 253.45CHF which seems to have broken the uptrend the stock has enjoyed since December 2016.
In spite of this, current levels could be seen as areas of support and with a reform in the US healthcare environment potentially on the horizon, further price action appears to be on the cards for this stock.
Jordan Hiscott, Chief Trader
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