Vertex cleans up its pipeline; FDA grants priority review to Jakafi for GVHD
→ While AbbVie was stepping up to challenge Vertex on cystic fibrosis today, the Boston-based biotech was engaged in a little pipeline cleanup. Vertex execs say they decided to drop a drug called VX-210 after an independent monitoring committee concluded the Phase IIb was a bust. Vertex bought the drug a few years ago from BioAxone, paying only $10 million upfront and promising up to $90 million more — not something that will break the bank at Vertex.
→ The FDA has promised a faster-than-standard priority review process for Incyte’s $INCY Jakafi as a treatment for acute graft-versus-host-disease (GVHD), that have not responded adequately to corticosteroids, subset of patients that have no other options. The drug is the company’s biggest revenue generator, and is approved to treat a host of diseases, including bone marrow disorder polycythemia vera and myelofibrosis.