Weak Rova-T Data May Imperil AbbVie's Larger Cancer Ambitions
Analysts already were skeptical about AbbVie's $5bn peak earnings projections for the ADC, but now some wonder if so-so data in third-line small cell lung cancer threaten Rova-T's viability for approval.
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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.
At J.P. Morgan, AbbVie said the clinical struggles of Rova-T won’t alter its deal-making plans and leave it with plenty of solid tumor possibilities. The pharma took a $4bn write-off of the Stemcentrx deal on Jan. 4.
All eyes are on Shire in its first quarter of reporting separate figures for its neuroscience division as Takeda ramps up the takeover pressure, while BMS, AbbVie, Sanofi, and Allergan primes pipeline for revenue growth.