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Roche acquired Carmot Therapeutics for $2.7B for anti-obesity drug development.
Roche to acquire obesity-focused Carmot Therapeutics for $2.7 billion, entering the intensely competitive obesity drug market with three clinical-stage…
Roche announces positive Phase II results for its dual GLP-1/GIP receptor agonist CT-388: placebo-adjusted weight loss of 22.5% (p<0.001) at 48 weeks (24 mg);…
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Roche acquired Carmot Therapeutics in an all-cash deal of $2.7 billion upfront (plus up to $400 million in milestone payments, ~$3.1 billion total), announced December 4, 2023 and completed January 29, 2024, to enter the GLP-1 obesity/cardiometabolic market. The deal brought Roche three clinical-stage incretin assets: CT-388 (an injectable dual GLP-1/GIP receptor agonist), CT-996 (an oral small-molecule GLP-1 receptor agonist) and CT-868 (a dual GLP-1/GIP agonist for type 1 diabetes). Lead asset CT-388 has since validated the thesis: on January 27, 2026 Roche reported positive Phase 2 topline data (trial CT388-103) showing 22.5% placebo-adjusted weight loss at 48 weeks at the 24 mg dose (p<0.001), with no weight-loss plateau observed — efficacy in the same range as Eli Lilly's tirzepatide. Roche said the Phase 3 program (Enith1 and Enith2) would begin in Q1 2026, and is also developing CT-388 as a combination asset with the Zealand-partnered amylin analog petrelintide. CT-996 remains in development (Roche licensed related IP from Structure Therapeutics for $100M in January 2026), positioning Roche as a credible late-mover across injectable and oral obesity.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Roche Holding AG / Carmot Therapeutics Inc. (this deal) | 2023 | $2.7B | 72 |
| Roche Holding AG / Chugai Pharmaceutical Co. Ltd. | 2002 | $1.4B | 100 |
| Roche Holding AG / Ventana Medical Systems Inc. | 2008 | $3.4B | 88 |
| Roche Holding AG / Corange Ltd. (Boehringer Mannheim Group) | 1997 | $11.0B | 88 |
| Roche Holding AG / Ventana Medical Systems Inc. | 2007 | $3.4B | 88 |
| Roche Holding AG / Foundation Medicine, Inc. | 2015 | $1.1B | 87 |
| Roche Holding AG / Foundation Medicine, Inc. | 2018 | $5.3B | 85 |
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