Amgen’s Backup Plan For Kyprolis Flop
Amgen Inc. (AMGN) recently reported a series of successes with its biosimilar Amjevita securing FDA approval, and its osteoporosis drug indicated better performance during an interim analysis. (For more, see Amgen's Biosimilar Gets FDA Approval and Amgen's Osteoporosis Drug Crosses a Hurdle.)
However, those positive prospects were marred by the recent flop of its key drug candidate kyprolis, for which Amgen had acquired Onyx Pharmaceuticals Inc. for $10.4 billion in 2013.
Recent Failure
In its first Phase III study for treating newly diagnosed multiple myeloma patients, the drug, combined with melphalan and prednisone, failed to show any significant improvement compared to competitor drug velcade’s similar combination with melphalan and prednisone. Multiple myeloma is a cancer of plasma cells, a type of white blood cells found in bone marrow.
However, those positive prospects were marred by the recent flop of its key drug candidate kyprolis, for which Amgen had acquired Onyx Pharmaceuticals Inc. for $10.4 billion in 2013.
Recent Failure
In its first Phase III study for treating newly diagnosed multiple myeloma patients, the drug, combined with melphalan and prednisone, failed to show any significant improvement compared to competitor drug velcade’s similar combination with melphalan and prednisone. Multiple myeloma is a cancer of plasma cells, a type of white blood cells found in bone marrow.