AbbVie's Schizophrenia Drug Fails, Boosting Bristol Myers' Stock
TL;DR
AbbVie's $8.7 billion acquisition of Cerevel Therapeutics has hit a setback as its schizophrenia drug candidate, emraclidine, failed two phase 2 trials, missing primary endpoints and showing no significant improvement over placebo. This failure benefits rival Bristol Myers Squibb, whose stock rose as AbbVie's fell. Despite the setback, AbbVie notes other promising candidates from the Cerevel acquisition, including a Parkinson's disease treatment that recently succeeded in phase 3 trials.
Topics:businesspharmaceuticals#abbvie#bristol-myers-squibb#clinical-trials#emraclidine#pharmaceuticals#schizophrenia
- AbbVie's $9B schizophrenia prospect flunks phase 2 trials, handing advantage to BMS Fierce Biotech
- AbbVie Stock Tumbles on Failed Schizophrenia Drug Studies. Bristol Myers Jumps. Barron's
- Bristol Soars 11% As Investors Question AbbVie's Costly 'Mistake' Investor's Business Daily
- Crown jewel from AbbVie's Cerevel buyout fails two Phase 2 schizophrenia tests, Bristol Myers' stock soars Endpoints News
- AbbVie Tumbles After New Schizophrenia Drug Fails in Two Trials Bloomberg
Want the full story? Read the original reporting
Read on Fierce Biotech