Daily briefings
Editor’s Briefing: October 22, 2026
In Short. Arcus Biosciences sold $250m of new shares a day after it reported new data on its kidney cancer pill. Roche, Sartorius and Pharming reported higher sales for the third quarter.
Arcus sells $250m of shares to fund its kidney cancer drug
CLEAR CELL renal cell carcinoma is the most common form of kidney cancer. Arcus Biosciences is testing casdatifan, a pill that blocks HIF-2 alpha, a protein that helps these tumors grow. On Wednesday afternoon Arcus filed to sell new shares, and late that night it priced 14,285,715 of them at $17.50 each, for $250m before fees (Arcus pricing release). The sale followed new data from an early trial with no comparison group, presented on Tuesday and summarized in the company’s offering document (Arcus prospectus). In 43 patients whose cancer had grown after earlier treatment, casdatifan with cabozantinib, an older kidney cancer pill, held the disease in check for a median of 14.5 months, and 77% of them were alive at 18 months. In 30 untreated patients given casdatifan with zimberelimab, an antibody that helps immune cells attack tumors, half of the 30 had their tumors shrink and 69% of them had no progression after a year. The sale is expected to close on October 23rd.
Roche’s sales increase 7% in the third quarter
Roche, a Swiss drugmaker that also sells diagnostic tests, said on Thursday that its sales grew 7% in the third quarter at constant exchange rates, a measure that removes the effect of currency swings (Roche release). Sales for the first nine months were CHF46.5bn, up 6% on that basis and 1% in Swiss francs. Medicines brought in CHF36.2bn, and medicine sales in Japan rose 25% at constant exchange rates. Xolair, a drug for chronic hives and food allergies, Hemlibra for hemophilia A, Ocrevus for multiple sclerosis, Phesgo for breast cancer and Vabysmo for eye disease grew fastest. The diagnostics business grew 4% at constant exchange rates, as demand for laboratory tests outweighed price cuts in China. Roche also listed an American clearance for a blood test that helps detect the amyloid buildup seen in Alzheimer’s disease, and it confirmed its outlook for 2026. American regulators also agreed to a faster review of fenebrutinib, an experimental pill for both the relapsing and the steadily progressive forms of multiple sclerosis.
Sartorius sells more laboratory equipment
Sartorius, a German company, sells equipment and single-use supplies that drugmakers use to grow cells and purify biological medicines, together with laboratory instruments. On Thursday it reported third-quarter sales of €926.3m, up 9.9% on a year earlier (Sartorius release). The laboratory division grew fastest, with sales up 14.1% to €188.7m, while the larger bioprocess division, which serves drug manufacturing, increased sales by 8.4% to €737.6m (Sartorius earnings release). Sales in the Americas grew 15.2% and in Asia 10.3%. Underlying profit before interest, tax, depreciation and amortization, a common measure of operating earnings, was €279.9m, or 30.2% of sales. Net profit was €66.1m, against €43.8m a year earlier. The company is still repaying customers for American tariff surcharges that the Supreme Court struck down, and it books those refunds as lower sales. It confirmed its guidance for the year and adjusted parts of it.
Pharming’s rare-disease drugs bring in more money
Pharming, a Dutch company, sells medicines for rare immune diseases. Ruconest treats attacks of hereditary angioedema, a genetic condition that causes sudden swelling, and Joenja treats APDS, a rare inherited immune disorder. On Thursday Pharming said preliminary third-quarter revenue was about $117.6m, up 21% on a year earlier (Pharming release). Ruconest brought in $93.8m, up 14%, and Joenja $23.8m, a 58% increase helped by launches in Germany and Japan. The company narrowed its forecast for 2026 revenue to $380m to $390m and moved its full results forward to October 27th. It expects mid-stage trial results in November for leniolisib, the drug sold as Joenja, in a broader group of patients with immune deficiency. Operating costs held steady at about $74.6m, and Pharming expects about 145 of 180 planned patients to be enrolled by the end of 2026 in its pivotal trial of napazimone, a drug for mitochondrial disease, in which the cell’s energy-producing parts fail.