AbbVie’s Business Development, Cancer Plans Not Put Off By Stemcentrx Disappointments

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.

Business concept illustration of a businessman being guided by a hand holding a flashlight uncovering arrow sign.

AbbVie Inc.’s $5.8bn purchase of Stemcentrx Inc. in 2016 was intended to add promising solid tumor oncology candidates to its pipeline, but after multiple clinical trial disappointments with lead candidate rovalpituzumab tesirine (Rova-T), the pharma recently took a $4bn impairment charge on the deal. At the J.P. Morgan Healthcare Conference, AbbVie President Michael Severino said that result won’t affect the firm’s deal-making plans and that AbbVie still has significant solid tumor assets in-house.

The Chicago-area drug maker halted the Phase III TAHOE study of Rova-T in second-line small cell lung cancer (SCLC) in...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Strategy

Cidara’s Fortunes Improve Quickly With Non-Vaccine Flu-Prevention Data

 
• By 

Having recently abandoned the antifungal space, Cidara’s stock soared on Phase IIb data showing that its drug-Fc conjugate prevents seasonal flu at rates from 57%-76%.

Novo And Lilly Lay Out Patient Segmentation Plans For Obesity Treatment

 

As competition heats up and the obesity market matures, the two frontrunners are tailoring their studies to the wants and needs of different patient groups.

Vertex Heralds ‘Unprecedented’ Zimislecel Type 1 Diabetes Data

 
• By 

The off-the-shelf stem cell therapy shows sustained glycemic control and a high rate of insulin independence.

Shigella Vaccine Pipeline And Why It Matters

 
• By 

A GSK-Bharat Biotech deal on a shigella vaccine candidate has cast a spotlight on the disease, which is the second leading cause of diarrheal deaths in children below five. Scrip looks at data from Pharmaprojects, WHO and other sources to highlight why a vaccine matters and what pharma is doing.

More from Business

Quick Listen: Scrip’s Five Must-Know Things

 
• By 

In this week's episode: US policies in spotlight at BIO; Lilly’s Verve acquisition; UroGen’s bladder cancer approval; Ireland’s biopharma talent; and Korea proposes new AI R&D project.

Asia Deal Watch: SunRock, Escugen Collaborate On CCR9-Targeted ADC

 

Axcelead/Lotte Biologics/Kanaph and NextCure/Simcere also unveil ADC-focused pacts, plus deals involving Avata/Oceanus, GSK/Bharat Biotech, Cullinan/Genrix and more.

Defying Gravity: Five Drugs That Surpassed Their Sales Forecasts

 

Many assets outperform their pre-launch sales predictions despite the frequent overestimation of forecasts within the industry. In this article, Scrip highlights several such assets and the factors that influenced their predictions.