ROCHE Holding AG, the world's biggest maker of cancer medicines, rose the most since February in Zurich trading yesterday after new studies eased concerns that its Avastin tumor drug might lose market share to Merck KGaA's Erbitux treatment.
Roche, based in Basel, Switzerland, climbed as much as 6.8 Swiss francs, or 3.8 percent, to 186.5 francs (US$179), its biggest gain since February 25.
Over the weekend Roche said a trial found that Avastin helped patients with colorectal cancer that has spread live about two years longer in clinical studies. Merck released data that indicated Erbitux may not threaten Avastin's dominance of the bowel and lung cancer markets, said Bloomberg News.
"We reckon Avastin in first-line metastatic colorectal cancer is not likely to suffer" much competitive pressure from Erbitux, Vontobel equity analysts including Andrew Weiss wrote in a note.