Shares of Celgene were dinged Monday evening after the Big Biotech noted that its top franchise drug Revlimid didn’t make the cut as a maintenance therapy for diffuse large B-cell lymphoma (DLBCL).
While the drug hit the primary endpoint for progression-free survival compared to a placebo in the Phase III REMARC study, investigators at the Lymphoma Academic Research Organization in France say it failed to make a significant difference in overall survival. As a result, Celgene says it’s dropping plans for a regulatory filing.
Celgene stock dropped 2.5% in after market trading. LYSARC did the study under a research contract for Celgene.
Celgene isn’t done yet trying to expand the market for its $6 billion drug, though. The company says it’s continuing Phase III studies for non-Hodgkin lymphomas. Revlimid is used for multiple myeloma. Said Michael Pehl, the president of hematology and oncology at Celgene:
“We are continuing to partner with LYSA to complete the analyses of the REMARC study. We remain committed to finishing the four ongoing phase III trials evaluating Revlimid and are confident about its potential as a treatment option across different settings in lymphoma.”
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