1336 GMT - Roche Holding's clinical-trial success rate has improved and research-and-development cycles shortened since the company introduced a more stringent approach to its drug pipeline after a series of failed studies in 2022, Vontobel's Stefan Schneider says. The Swiss drugmaker used an event with investors on Monday to showcase the progress it made over the past year, the analyst says in a research note. Even if Roche disclosed it is dropping development of muscle-sparing drug emugrobart for obesity, ten positive late-stage study results over the past year reassure about its future growth outlook, the analyst adds. "Today, the company has an overall smaller number of pipeline projects ongoing, but they are more carefully selected when being pushed through the clinic to the market," Vontobel says. Shares fall 1.4%.