AbbVie Gains Lung Cancer ADC, Solid Tumor Platform With Stemcentrx Buyout
As part of its strategy to offset the coming Humira patent cliff, AbbVie Inc. is looking to oncology as a "significant pillar of growth" going forward, a gambit CEO Richard Gonzalez says will benefit greatly from both the pipeline candidates and the solid tumor R&D engine his company will obtain in the $5.8bn purchase of Stemcentrx announced April 28.
You may also be interested in...
AbbVie’s latest, largest acquisition may be cast in a new light as the pandemic throws stock markets into turmoil and commercial prospects up in the air.
AbbVie already wrote off $4bn of the $5.8bn Stemcentrx acquisition that gave it the antibody-drug-conjugate, but now the company has ended all Rova-T development.
Enrolment In the Phase III TAHOE study has been halted due to shorter overall survival in the Rova-T arm compared with the control arm.