Still pondering an M&A move, Gilead's R&D team outlines a Q3 lineup of setbacks on 3 pipeline drugs
Hit on one side by slumping hep C revenue and on the other side by high expectations for its pipeline effort, Gilead grimly hung on to simtuzumab after the LOXL2 enzyme blocker flopped in two straight studies. Now the Big Biotech has added several more failures to the roster and put the five-time loser on the shelf for good.
And that’s not all.
Two more drugs also failed a lineup of clinical trial tests, leaving Gilead $GILD looking weaker on the R&D front at precisely the time it needs to show strength. In addition to simtuzumab, the biotech also wrote off the late-stage drug GS-5745 for ulcerative colitis and Crohn’s. And it’s top cardio prospect failed a study as well, significantly reducing its chances of becoming the big new drug that Gilead needs as hep C wanes. Meanwhile, its Q3 R&D expenses spiked, largely due to the $200 million payment it just made to Nimbus.
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