Celgene Shares Good News On Ozanimod, Quietly Dumps Pricey GED-0301
Strong Q1 results and a plan to refile ozanimod in early 2019 may help investors regain confidence in Celgene, but a lot depends on the company's pipeline, which had an additional setback with discontinuation of all GED-0301 development.
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The latest drug development news and highlights from our US FDA Performance Tracker.
Second quarter Otezla sales came in slightly lower than consensus, but Celgene believes changes in inventory levels will smooth out for the remainder of 2018. However, the company is reconsidering its pursuit of IBD indications for Otezla in deference to its potential blockbuster ozanimod.
With the FDA updating its stance on interchangeability, analysts will be pushing Amgen and AbbVie on how the policy changes will affect biosimilar competition. Celgene and Allergan will be under pressure for R&D updates; Allergan remains in the hot seat on its pipeline growth strategy from activist investors.