So­ri­ot’s $3.5B Bril­in­ta dream is dashed by yet an­oth­er big tri­al flop for As­traZeneca

As­traZeneca CEO Pas­cal So­ri­ot

Four years ago, when Pas­cal So­ri­ot stepped to the helm of the fal­ter­ing As­traZeneca, he based his turn­around plan on a vow that the phar­ma gi­ant could trans­form Bril­in­ta in­to a block­buster fran­chise, even­tu­al­ly promis­ing in­vestors $3.5 bil­lion in an­nu­al rev­enue.

Now, af­ter its sec­ond con­sec­u­tive set­back in the clin­ic this year, So­ri­ot is fi­nal­ly back­ing off that num­ber.

This time, the drug failed to demon­strate a ben­e­fit over gener­ic Plav­ix (clopi­do­grel) for pe­riph­er­al artery dis­ease. Back in March, the heart drug flopped in a large stroke study, un­able to prove that it could beat as­pirin. And So­ri­ot can chalk up those ex­pen­sive stud­ies to prov­ing Bril­in­ta’s se­ri­ous de­fi­cien­cies.

“We don’t be­lieve the goal of $3.5 bil­lion is at­tain­able. I think it would be un­re­al­is­tic to be­lieve that,” Lu­dovic Helf­gott, head of As­traZeneca’s Bril­in­ta busi­ness, told Reuters.

Bril­in­ta brought in a to­tal of $619 mil­lion last year af­ter dis­ap­point­ing an­a­lysts re­peat­ed­ly with low­er-than-ex­pect­ed quar­ter­ly rev­enue.

Lu­dovic Helf­gott, As­traZeneca

Heart stud­ies aren’t cheap. As­traZeneca re­cruit­ed 13,500 pa­tients for the EU­CLID study, and it had en­rolled close to that num­ber for the ear­li­er SOCRATES tri­al.

As­traZeneca has ex­pe­ri­enced a rash of se­ri­ous set­backs over the course of the year, falling be­hind where it need­ed to stride for­ward. Bro­dalum­ab proved a dis­ap­point­ment, trig­ger­ing a sale to Valeant at a dis­count. The same fate await­ed lesin­u­rad. And selume­tinib re­cent­ly failed – not for the first time – in lung can­cer.

Each set­back has spurred a fresh re­view of So­ri­ot’s 2014 promise to prod rev­enue to $45 bil­lion a year by 2023, which in­creas­ing­ly looks like a pipe dream.

The phar­ma gi­ant has made some progress on the can­cer front, but is still slow­ly ad­vanc­ing its an­ti-PD-L1 pro­gram as the fourth or fifth check­point like­ly to hit the mar­ket.

It’s fi­nal­ly over: Bio­gen, Ei­sai scrap big Alzheimer’s PhI­I­Is af­ter a pre­dictable BACE cat­a­stro­phe rais­es safe­ty fears

Months after analysts and investors called on Biogen and Eisai to scrap their BACE drug for Alzheimer’s and move on in the wake of a string of late-stage failures and rising safety fears, the partners have called it quits. And they said they were dropping the drug — elenbecestat — after the independent monitoring board raised concerns about…safety.

We don’t know exactly what researchers found in this latest catastrophe, but the companies noted in their release that investigators had determined that the drug was flunking the risk/benefit analysis.

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Deborah Dunsire. Lundbeck

Deb­o­rah Dun­sire is pay­ing $2B for a chance to leap di­rect­ly in­to a block­buster show­down with a few of the world's biggest phar­ma gi­ants

A year after taking the reins as CEO of Lundbeck, Deborah Dunsire is making a bold bid to beef up the Danish biotech’s portfolio of drugs in what will likely be a direct leap into an intense rivalry with a group of giants now carving up a growing market for new migraine drugs.

Bright and early European time the company announced that it will pay up to about $2 billion to buy Alder, a little biotech that is far along the path in developing a quarterly IV formulation for a CGRP drug aimed at cutting back the number of crippling migraines patients experience each month.

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Lisa M. DeAngelis, MSKCC

MSK picks brain can­cer ex­pert Lisa DeAn­ge­lis as its next CMO — fol­low­ing José Basel­ga’s con­tro­ver­sial ex­it

It’s official. Memorial Sloan Kettering has picked a brain cancer expert as its new physician-in-chief and CMO, replacing José Baselga, who left under a cloud after being singled out by The New York Times and ProPublica for failing to properly air his lucrative industry ties.

His replacement, who now will be in charge of MSK’s cutting-edge research work as well as the cancer care delivered by hundreds of practitioners, is Lisa M. DeAngelis. DeAngelis had been chair of the neurology department and co-founder of MSK’s brain tumor center and was moved in to the acting CMO role in the wake of Baselga’s departure.

Penn team adapts CAR-T tech, reengi­neer­ing mouse cells to treat car­diac fi­bro­sis

After establishing itself as one of the pioneer research centers in the world for CAR-T cancer therapies, creating new attack vehicles to eradicate cancer cells, a team at Penn Medicine has begun the tricky transition of using the basic technology for heart repair work.

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Tal Zaks. Moderna

The mR­NA uni­corn Mod­er­na has more ear­ly-stage hu­man da­ta it wants to show off — reach­ing new peaks in prov­ing the po­ten­tial

The whole messenger RNA field has attracted billions of dollars in public and private investor cash gambled on the prospect of getting in on the ground floor. And this morning Boston-based Moderna, one of the leaders in the field, wants to show off a few more of the cards it has to play to prove to you that they’re really in the game.

The whole hand, of course, has yet to be dealt. And there’s no telling who gets to walk with a share of the pot. But any cards on display at this point — especially after being accused of keeping its deck under lock and key — will attract plenty of attention from some very wary, and wired, observers.

“In terms of the complexity and unmet need,” says Tal Zaks, the chief medical officer, “this is peak for what we’ve accomplished.”

Moderna has two Phase I studies it wants to talk about now.

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It's not per­fect, but it's a good start: FDA pan­elists large­ly en­dorse Aim­mune's peanut al­ler­gy ther­a­py

Two days after a fairly benign review from FDA staff, an independent panel of experts largely endorsed the efficacy and safety of Aimmune’s peanut allergy therapy, laying the groundwork for approval with a risk evaluation and mitigation strategy (REMS).

Traditionally, peanut allergies are managed by avoidance, but the threat of accidental exposure cannot be nullified. Some allergists have devised a way to dose patients off-label with peanut protein derived from supermarket products to wean them off their allergies. But the idea behind Aimmune’s product was to standardize the peanut protein, and track the process of desensitization — so when accidental exposure in the real world invariably occurs, patients are less likely to experience a life-threatening allergic reaction.

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Rit­ter bombs fi­nal PhI­II for sole lac­tose in­tol­er­ance drug — shares plum­met

More than two years ago Ritter Pharmaceuticals managed to find enough silver lining in its Phase IIb/III study — after missing the top-line mark — to propel its lactose intolerance toward a confirmatory trial. But as it turned out, the enthusiasm only set the biotech and its investors up to be sorely disappointed.

This time around there’s little left to salvage. Not only did RP-G28 fail to beat placebo in reducing lactose intolerance symptoms, patients in the treatment group actually averaged a smaller improvement. On a composite score measuring symptoms like abdominal pain, cramping, bloating and gas, patients given the drug had a mean reduction of 3.159 while the placebo cohort saw a 3.420 drop on average (one-sided p-value = 0.0106).

Ear­ly snap­shot of Ad­verum's eye gene ther­a­py sparks con­cern about vi­sion loss

An early-stage update on Adverum Biotechnologies’ intravitreal gene therapy has triggered investor concern, after patients with wet age-related macular degeneration (AMD) saw their vision deteriorate, despite signs that the treatment is improving retinal anatomy.

Adverum, on Wednesday, unveiled 24-week data from the OPTIC trial of its experimental therapy, ADVM-022, in six patients who have been administered with one dose of the therapy. On average, patients in the trial had severe disease with an average of 6.2 anti-VEGF injections in the eight months prior to screening and an average annualized injection frequency of 9.3 injections.

Alex Ar­faei trades his an­a­lyst's post for a new role as biotech VC; Sanofi vet heads to Vi­for

Too often, Alex Arfaei arrived too late. 

An analyst at BMO Capital Markets, he’d meet with biotech or pharmaceutical heads for their IPO or secondary funding and his brain, trained on a biology degree and six years at Merck and Endo, would spring with questions: Why this biomarker? Why this design? Why not this endpoint? Not that he could do anything about it. These execs were coming for clinical money; their decisions had been made and finalized long ago.