Merck’s exit pushes Endocyte shares lower
Shares of Endocyte Inc. skidded 15 percent Wednesday after industry giant Merck & Co. Inc. decided it would give up on developing Endocyte cancer drug vintafolide.
Shares of Endocyte Inc. skidded 15 percent Wednesday after industry giant Merck & Co. Inc. decided it would give up on developing Endocyte cancer drug vintafolide.
Endocyte Inc.’s stock fell more than 60 percent in early trading Friday after the drug it’s developing with Merck & Co.’s backing failed to help patients in a trial for ovarian cancer.
The European Committee for Medicinal Products for Human Use is scheduled to meet March 17-20, and analysts expect the agency to vote during that meeting to approve vintafolide, Endocyte’s first drug, which treats ovarian cancer.
Since 1998, there have been more than 100 attempts to develop an Alzheimer’s treatment, and all have failed. Such a product may generate as much as $5 billion annually for Merck, according to analysts
Eli Lilly and Co. and Pfizer Inc., which are both suffering through some of the largest patent cliffs in the industry, will split any future costs and profits of an osteoarthritis drug that has stalled in clinical testing.
If approved, the drug would be a potent boost to Lilly’s product portfolio. It would also mean a critical new therapy for a cancer that’s proven difficult to treat.
Lilly has set up not one, not two, but five head-to-head trials of its experimental drug dulaglutide against other leading diabetes therapies. So far, dulaglutide’s record is four wins, no losses.
The trial of 2,100 patients, called Expedition III, will use new measures of cognitive function, such as the ability to do tasks like cooking or driving, or remembering words after a delay.
Lilly officials said they will push ahead with the first-of-a-kind imaging chemical, despite the mostly negative ruling by Medicare officials.
Lilly’s drug, if approved, may be a significant competitor to Novo Nordisk A/S’s Victoza, which generated $1.64 billion in 2012.
Eli Lilly and Co. will pay Canadian drug developer Transition Therapeutics Inc. at least $7 million and up to as much as $247 million to take over the development of a potential diabetes treatment.
The trial ended after participants showed abnormal liver biochemistry, the Indianapolis-based drugmaker said Thursday in a statement.
Eli Lilly and Co. is seeking to revoke a patent held by a Johnson & Johnson unit, arguing at a London court it might delay availability of a potential treatment for Alzheimer’s disease.
Eli Lilly and Co. said Monday that it has submitted a new type 2 diabetes treatment it is developing with German drugmaker Boehringer Ingelheim to the Food and Drug Administration.
Endocyte Inc. saw its shares fall nearly 7 percent Tuesday morning after the drug development firm announced that its application for U.S. approval of a cancer drug could be delayed another 10 months.
With Eli Lilly and Co. set to see patents expire on its best-selling drug at year’s end, it is in the company’s interest to say its pipeline is about to produce new drugs. But the Indianapolis drugmaker may be in a position to submit five new drugs for regulatory approval this year.
Johnson & Johnson, the world’s largest seller of health-care products, won the backing of U.S. advisers for a diabetes pill the company is seeking to make the first in a new family of drugs for managing blood sugar.
Eli Lilly and Co. suffered a delay in its effort to bring an Alzheimer’s drug to market this month, but it also published new research that the pharmaceutical company thinks confirms it is on the right track.
Eli Lilly and Co. said it discontinued a last-stage trial of experimental rheumatoid arthritis drug tabalumab for lack of efficacy. Lilly is still evaluating the drug in the two other late-stage studies.
Eli Lilly will launch another study of its possible Alzheimer's treatment solanezumab, a move that delays a regulatory decision on a drug that flashed potential to help patients with mild cases of the fatal disease.