- OTCMKTS: RHHBY is rising on Thursday while European shares are on the back foot.
- Roche is benefiting from a recent FDA green light for an influenza drug.
- The drugmaker's stock could advance once the dust settles from coronavirus vaccines.
Winter is almost here and cold temperatures also increase the chances of someone catching the flu, not only COVID-19. Roche Holdings AG (OTCMKTS: RHHBY) has been out of the spotlight when it comes to coronavirus but is making headway in other directions.
The US Food and Drugs Administration (FDA) has approved a supplemental New Drug Application (sNDA) for Xofluza, a drug used against influenza. Roche received a green light to sell the drug as a preventive treatment for those who came in contact with someone with influence.
The Swiss drugmaker said that Xofluza is unique in being a single-dose influenza medicine used for post-exposure prophylaxis. The nod from the FDA came after a Phase 3 trial showed that the drug is statistically significant in holding back the flu.
RHHBY stock forecast
OTCMKTS: RHHBY is rising on Thursday, defying the general downtrend in European stocks. The ongoing positive effect from the news on Roche's stock price is another sign of resilience. The FDA gave its approval already on Tuesday.
The world is gripped by COVID-19 news, ranging from rising hospitalizations in the US, lockdown moves in Europe, and optimistic developments on the vaccine front. This focus overshadows other diseases and drugmakers such as Switzerland's Roche. However, once markets fully price in a timetable for exiting the covid crisis, there is room for gains.
RHHBY is changing hands at around $41.30, bang in the middle of the past year's range. The 52-week high is $47.15 and the 52-week low is $35.04. Developments such as the FDA's nod for Xofluza may push shares toward the upper end of the range.
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