Crovalimab is a monoclonal antibody commercialized by F. Hoffmann-La Roche, with a leading Pre-Registration program in Paroxysmal Nocturnal Hemoglobinuria. According to Globaldata, it is involved in 9 clinical trials, of which 2 were completed, and 7 are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of Crovalimab’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Crovalimab is expected to reach an annual total of $192 mn by 2035 in the US based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.
Crovalimab Overview
Crovalimab (RO-7112689, RG-6107, SKY-59) is under development for the treatment of vaso-occlusive crisis associated with sickle cell disease, paroxysmal nocturnal hemoglobinuria, lupus nephritis and atypical hemolytic uremic syndrome (aHUS). The drug candidate is administered through the intravenous and subcutaneous route as a solution. The drug candidate is a monoclonal antibody which acts by targeting C5 which is developed based on recycling antibody technology. It is a new molecular entity (NME).
It was also under development for the treatment of Guillain-Barre syndrome.
F. Hoffmann-La Roche Overview
F. Hoffmann-La Roche (Roche) is a biotechnology company that develops drugs and diagnostics to treat major diseases. It provides medicines for the treatment of cancer, other auto-immune diseases, central nervous system disorders, ophthalmological disorders, infectious diseases, and respiratory diseases. The company also offers in vitro diagnostics, tissue-based cancer diagnostics, and diabetes management solutions. Roche conducts research to identify novel methods to prevent, diagnose, and treat diseases. The company offers its products and services to hospitals, healthcare professionals, commercial laboratories, researchers, and pharmacists. Together with its subsidiaries and partners, the company has operations in various countries. Roche is headquartered in Basel, Switzerland.
The company reported revenues of (Swiss Francs) CHF63,281 million for the fiscal year ended December 2022 (FY2022), an increase of 0.8% over FY2021. In FY2022, the company’s operating margin was 27.6%, compared to an operating margin of 28.9% in FY2021. In FY2022, the company recorded a net margin of 19.6%, compared to a net margin of 22.2% in FY2021.
For a complete picture of Crovalimab’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.
The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.
