Novartis’s Ligelizumab Founders In Phase III Despite Positive Predictions
Fails To Top Xolair in CSU trials
Novartis’s ligelizumab failed to show superiority over standard of care Xolair, subverting hopeful analyst expectations and changing the firm’s focus in chronic spontaneous urticaria to a BTK inhibitor asset.
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The Basel-headquartered giant has decided to spend a major chunk of its $20.7bn windfall from the sale of its stake in Roche on a stock repurchasing program up to the end of 2023, disappointing some observers who wanted to see big licensing deals or acquisitions.
Last week, the Swiss major gave a glimpse into the next wave of innovation coming out of its labs in key areas such as osteoarthritis, pancreatic cancer and food allergy. Scrip has been taking a detailed look at the highlights.
Roche entered the year with a projected hit to revenues from multi-source biosimilar competition to its three leading biologics. However, the number was increased at the half-year mark and could be set to ratchet up further, according to management.