This Week's Key IPO Results: Roche, Abbott, Bajaj & Moderna-Merck

This India Pharma Weekly presents the key IPO Results that capture global strategy shifts, domestic performance, and a scientific breakthrough around India’s specialty-medicine landscape.

Roche delivered strong CEETRIS growth, Abbott advanced its nutrition business spin-off, Bajaj Healthcare posted solid pharma Q2 results, and Moderna-Merck released landmark personalized cancer vaccine data.

These four updates form a clear weekly picture of companies adjusting strategy, Indian firms executing well, and science moving forward.

Roche Q3: CEETRIS Growth Keeps India at the Forefront

Roche reported third-quarter group sales of 16.13 billion Swiss francs, up 7 percent at constant exchange rates. Nine-month sales reached 46.5 billion francs, a 6 percent CER rise. The International region, including CEETRIS (Central Eastern Europe, Türkiye, Russia and the Indian subcontinent), grew 10 percent CER.

India sits inside this faster-growing zone. Demand for specialty brands such as Phesgo, Vabysmo, Hemlibra, Ocrevus and Evrysdi matches rising needs in oncology, ophthalmology and haemophilia. The numbers quietly confirm that India remains a priority market for investment in Indian specialty medicines and future launches like giredestrant and fenebrutinib.

Also Read: Top 10 Performing Indian Pharma Stocks This Quarter (2026)

Abbott Plans Nutrition Spin-Off, Cuts 2026 Growth Forecast

Abbott plans to separate its global nutrition business into an independent public company through a tax-free share distribution, targeting completion by the end of 2027. The unit brings in about USD 8.5 billion in annual sales and includes well-known brands such as Similac, Ensure, PediaSure and Glucerna.

At the same time, Abbott cut its 2026 sales-growth forecast to roughly 6 percent from the earlier 6.5–7.5 percent range because of softer medical device demand. After the nutrition business spin-off, the remaining company will focus on higher-growth areas in devices, diagnostics and established medicines.

Bajaj Healthcare Q2: Profit Jumps 27%, Revenue Rises 19%

Bajaj Healthcare delivered solid pharma Q2 results:

• Revenue from operations rose 18.9 percent year-on-year to Rs 175.9 crore
• Profit after tax climbed 26.9 percent to Rs 14.1 crore
• EBITDA grew 12.2 percent to Rs 32.1 crore

API exports increased 28.5 percent to Rs 62.6 crore. Formulations revenue jumped about 82 percent to Rs 41.7 crore, helped by the September launch of Cenobamate tablets. In the first half, revenue grew 15.1 percent, and PAT rose 21.1 percent. India Ratings also upgraded the long-term credit rating to IND A/Stable.

Moderna-Merck Cancer Vaccine: Landmark Phase 3 Results

Phase 3 data for the personalized cancer vaccine intismeran (mRNA-4157/V940) plus Merck’s Keytruda showed:

• 42 percent lower risk of cancer recurrence or death versus Keytruda alone
• 38 percent lower risk of distant metastasis or death
• 82.2 percent of patients on the combination remained cancer-free at two years, compared with 70 percent on Keytruda alone

These IPO Results provide the first late-stage proof that a personalized mRNA vaccine targeting each patient’s unique tumor mutations can improve outcomes when added to a checkpoint inhibitor. Shares saw a sell-the-news reaction after high expectations. Full results will be presented at ESMO as overall survival data continue to mature.

Weekly Takeaway

The week’s key IPO Results show global companies reshaping portfolios, mid-sized Indian firms posting double-digit growth, and a personalized cancer vaccine clearing an important clinical hurdle. Together, they highlight India’s growing role in specialty medicines.