Roche Drops as Phase 3 Kidney Signal Needs Two-Year Proof

Roche Holding (RHHBY), the pharmaceuticals and diagnostics group, reported that its experimental kidney drug sefaxersen cut protein in patients' urine significantly more than a placebo in a Phase 3 trial. Its U.S. depositary receipts slipped about 1.0% to $55.11. At that price, Roche trades 33.15…