April 27 Quick Takes: AbbVie exits CF based on triplet’s readout
Plus: AZ cuts late-stage GLP-1, Wilson’s disease programs and updates from Sanofi, 4D Molecular, Generate
Citing disappointing results from its latest proof-of-concept study of a triplet therapy to treat cystic fibrosis, AbbVie Inc. (NYSE:ABBV) said during its 1Q23 earnings call Thursday that it is exiting the CF area. The study followed a readout last year from a POC trial that also fell short of the pharma’s efficacy threshold, testing a different combination of a C1 corrector, a C2 corrector and a potentiator associated with the CFTR gene. AbbVie’s decision strengthens the marketplace domination of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX), which markets multibillion-selling Trikafta/Kaftrio elexacaftor/tezacaftor/ivacaftor. AbbVie also reported quarterly sales of Skyrizi risankizumab-rzaa that fell short of analysts’ consensus, as biosimilar competition erodes the immunology franchise led by Humira adalimumab; the pharma’s shares slipped 8% Thursday, while Vertex’s were up 5%.
AstraZeneca plc (LSE:AZN; NASDAQ:AZN) disclosed in its 1Q23 earnings report that it discontinued development of two late-stage programs: GLP-1/GCG agonist cotadutide and ALXN1840. Cotadutide, a once-daily formulation was in Phase II/III testing to treat non-alcoholic steatohepatitis (NASH), but was deprioritized in favor of AZD9550, a once-weekly GLP-1/GCG agonist. ALXN1840 had met the primary endpoint in the Phase III FoCus trial, but AZ said it would discontinue development following feedback from regulators on the data. ALXN1840 was the lead program in Alexion’s $815 million takeout of Wilson Therapeutics AB in 2018. Alexion was subsequently acquired by AZ for $39 billion in 2021...