It seems Allergan has a more durable franchise in Restasis than some biotech investors would like to believe. A competitor to the dry eye drug from Eleven Biotherapeutics failed a Phase III pivotal trial, pushing the company to change focus.
Eleven Bio announced early 18 May that EBI-005 failed to reduce pain or damage to the cornea compared to a control in a 12-week study. Progress in the study was...