Key BMS growth driver Cobenfy fails Phase III in adjunctive schizophrenia

A miss in a Phase III study will dent BMS’s chances of deriving full value out of a potential label expansion for Cobenfy, the schizophrenia drug upon which its $14 billion acquisition of Karuna hinged, as the company continues to search for growth drivers amid a series of patent cliffs.

Bristol Myers Squibb Co. (NYSE:BMY) said late Tuesday that Cobenfy xanomeline-trospium failed to show significance on the primary endpoint in the Phase III ARISE study to treat schizophrenia in an adjunctive setting. Among patients receiving an atypical antipsychotic plus placebo or Cobenfy, the treatment group had a 2.0 reduction on Positive and Negative Schizophrenia Symptoms (PANSS) total scores compared with placebo (p=0.11)...