Roche
By therapeutic area
| Therapeutic area | Premium | Deals |
|---|---|---|
| oncology | ×1.00 | 15 |
| immunology | ×1.50 | 8 |
| metabolic | ×1.50 | 5 |
| neurology | ×0.90 | 3 |
| cardiovascular | ×1.06 | 3 |
By stage at signing
| Phase | Premium | Deals |
|---|---|---|
| phase 2 | ×1.50 | 14 |
| preclinical | ×0.83 | 9 |
| phase 1 | ×1.20 | 8 |
| phase 3 | ×1.20 | 6 |
| approved | ×1.50 | 3 |
Strategy profile
Based on 15 disclosed transactions, Roche concentrates its licensing activity in Oncology, Metabolic, and Immunology. Roche pays a 1.36x premium over market median, with the strongest premiums in Metabolic (1.50x). Their most common deal structure is Acquisition, with an average disclosed value of $1.9B. Most recent activity: 2026.
Premium by therapeutic area
How Roche pays relative to peer medians in each TA
Pipeline coverage & gaps
Roche has disclosed activity in 5 of 12 tracked therapeutic areas. Gaps may represent whitespace opportunities for licensors.
Deal type breakdown
How this buyer structures its transactions
| Deal type | Count | Avg upfront | Avg total value |
|---|---|---|---|
| AcquisitionPrimary | 6 | $1.5B | $1.8B |
| License | 5 | $462M | $2.7B |
| Collaboration | 2 | $83M | $922M |
| Option | 1 | $147M | $1.1B |
| Co Development | 1 | $100M | $600M |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2026 | PathAI platform (AI pathology/diagnostics) | PathAI, Inc. | — | unknown | — | $1.5B |
| 2026 | — | SangeneBio | — | discovery | $200M | $1.7B |
| 2025 | Pegozafermin (MASH acquisition) | 89bio | MASH with fibrosis, MASH cirrhosis | phase_3 | $2.4B | $3.5B |
| 2025 | PathAI AI pathology platform | PathAI | — | unknown | — | $1.5B |
| 2024 | breast_cancer | Regor Therapeutics | breast_cancer | phase_1 | $850M | $850M |
| 2024 | melanoma | Iovance Biotherapeutics | melanoma | phase_2 | $150M | $1.2B |
| 2024 | Petrelintide | Zealand Pharma | Obesity | phase_2 | $1.6B | $5.3B |
| 2024 | autoimmune | Poseida Therapeutics | autoimmune | phase_1 | $110M | $3.3B |
| 2024 | Pemvidutide | Altimmune | Obesity, MASH | phase_2 | $250M | $2.0B |
| 2024 | CD47 | MorphoSys | Pancreatic | phase_1 | $147M | $1.1B |
| 2024 | autoimmune | GenEdit | autoimmune | preclinical | $15M | $644M |
| 2024 | Zosurabalpin | Harvard University | Carbapenem-resistant Acinetobacter baumannii (CRAB) | phase_1 | $100M | $600M |
| 2024 | Pan-TL1A | LianBio | Inflammatory Bowel Disease | phase_1 | $100M | $1.3B |
| 2024 | Anti-BCL-2-301 | Galapagos | Mantle Cell Lymphoma | phase_1 | $91M | $834M |
| 2023 | CT-388 / CT-996 | Carmot Therapeutics | Obesity | phase_2 | $2.7B | $2.7B |
How this is computed
For each Roche deal we find the median total deal value of comparable transactions (same therapeutic area + phase, falling back to TA-only with ≥3 peers). The buyer’s deal divided by the peer median is the per-deal premium. We trim outliers, take the trimmed mean, and clamp to [0.7×, 1.5×] to reject data errors. Confidence scales with sample size.
Trimmed mean of 40 disclosed deal premiums vs. peer medians. Raw premium 1.363, clamped to [0.7, 1.5].