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 Other, Oncology, and Cardiovascular. Roche pays a 1.36x premium over market median, with the strongest premiums in Metabolic (1.50x). Their most common deal structure is Collaboration, with an average disclosed value of $1.5B. 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 |
|---|---|---|---|
| CollaborationPrimary | 10 | $119M | $1.3B |
| License | 4 | $161M | $2.1B |
| Acquisition | 1 | — | $1.5B |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2026 | oncology bispecific-antibody programs | Earendil Labs | — | discovery | $55M | $1.5B |
| 2026 | Earendil bispecific antibodies | Earendil | — | discovery | $55M | $1.5B |
| 2026 | Atavistik Bio cardiovascular, renal, and metabolic disease research collaboration | Atavistik Bio | — | discovery | $70M | $2.0B |
| 2026 | — | Atavistik Bio | cardiovascular, renal and metabolic diseases (CVRM) | discovery | $70M | $2.0B |
| 2026 | Bispecific antibodies for immune and inflammatory diseases | Dualitas Therapeutics | immune and inflammatory diseases | discovery | $37M | $1.0B |
| 2026 | Bispecific antibodies program | Dualitas Therapeutics | — | unknown | $37M | $1.0B |
| 2026 | SIM0660 | Simcere Zaiming | — | unknown | $75M | $1.5B |
| 2026 | HM17321 | Hanmi Pharmaceutical | obesity / type 2 diabetes / cardiovascular disease | phase_1 | $190M | $2.3B |
| 2026 | HM17321 | Hanmi Pharm | obesity | phase_1 | $190M | $2.3B |
| 2026 | HM17321 | Hanmi Pharm | obesity and associated cardiovascular diseases | preclinical | $190M | $2.3B |
| 2026 | PathAI digital pathology platform | PathAI | — | unknown | — | $1.5B |
| 2026 | Protein degrader program | Nurix Therapeutics | cancer | unknown | — | $700M |
| 2026 | Breast cancer therapy research program | Astex Pharmaceuticals | breast cancer | discovery | $25M | $490M |
| 2026 | breast cancer program | Astex Pharmaceuticals | Breast cancer | discovery | $25M | $515M |
| 2026 | bexobrutideg (NX-5948) | Nurix Therapeutics | oncology/immunology | unknown | $700M | $2.3B |
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].