Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

UPDATE 1-AstraZeneca's Brilinta drug fails in big arterial disease trial

Published 2016-10-04, 03:12 a/m
© Reuters.  UPDATE 1-AstraZeneca's Brilinta drug fails in big arterial disease trial
SASY
-
AZN
-
PFE
-
ARLZQ
-

* Brilinta fails to show benefit over clopidogrel in PAD

* Follows failure of heart drug in stroke trial in March

* Drugmaker sells rights to Toprol-XL for up to $223 mln (Adds sales forecasts, detail on Toprol-XL deal with Aralez)

By Ben Hirschler

LONDON, Oct 4 (Reuters) - AstraZeneca's AZN.L heart drug Brilinta has failed to help patients with serious circulatory problems in their legs, dealing a blow to a medicine that the company has tipped as a potential $3.5 billion-a-year seller by 2023.

AstraZeneca AZN.L said on Tuesday that Brilinta failed to show a benefit over the older blood thinner clopidogrel in treating peripheral artery disease (PAD) in a large-scale clinical trial. PAD usually affects the legs.

Clopidogrel is the generic name of Sanofi's SASY.PA former blockbuster drug Plavix, which is now off patent.

The setback follows similar disappointing results in March with the same AstraZeneca pill in another big trial in stroke patients. Both studies were designed to open up new markets for Brilinta beyond its current use in heart attack patients. Bohen, AstraZeneca's head of global medicines development and chief medical officer, said he was disappointed that the so-called EUCLID trial had failed but added: "The proven benefits of Brilinta in acute coronary syndrome and post-myocardial infarction (heart attack) patients are established and remain unchanged."

Full results from the EUCLID trial, which involved 13,885 patients, are expected to be presented at the American Heart Association annual meeting in New Orleans in November.

A positive result could have boosted consensus forecasts for Brilinta, which currently stand at an annual $2.1 billion for 2021, according to Thomson Reuters data.

During its defence against a takeover bid from Pfizer PFE (NYSE:PFE).N in 2014, AstraZeneca gave a projection of Brilinta sales reaching $3.5 billion by 2023, making it an important part of a $45 billion revenue target announced by the company at the time.

Brilinta's sales in 2015 were $619 million.

Separately, AstraZeneca also announced it had agreed to sell the U.S. rights its old beta-blocker heart drug Toprol-XL to Aralez Pharmaceuticals ARZ.TO , marking the latest move by the British company to divest non-core businesses as it focuses on bringing out newer medicines, especially for cancer.

Aralez will pay AstraZeneca $175 million upfront to acquire the rights to Toprol-XL tablets in the United States, and the authorised generic medicine marketed by Par Pharmaceuticals. It will also pay up to $48 million in milestone and sales-related payments, as well as mid-teen percentage royalties on sales.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.