5 Big Pharmas Facing Catalysts in 2017
May 26, 2017
By Mark Terry, BioSpace.com Breaking News Staff
The year has gone fairly well so far for the biopharma industry, despite inconsistent messages from the Trump administration about drug pricing. Lee Jackson, writing for 24/7 Wall Street, takes a look at five big pharma companies that are facing big decisions this year.
1. AbbVie
Earlier this month, North Chicago-based AbbVie announced positive data from its Phase II CELEST clinical trial of upadacitinib (ABT-494) in adults with moderately to severely active Crohn’s disease. The trial evaluated the safety and efficacy of multiple dosing regimens after 16 weeks of treatments. The results were positive enough to move the drug into Phase III trials. More patients achieved endoscopic remission with the drug compared to placebo. It also hit secondary endpoints of nearly twice as many patients hitting clinical response with the drug. Readouts for the drug in rheumatoid arthritis are expected sometime this year. Also, the company will release data from its Phase III trial of risankizumab for psoriasis sometime this year.
AbbVie is currently trading for $66.34.
2. Bristol-Myers Squibb
In April, Bristol-Myers Squibb inked two separate deals, one with Biogen and the other with Roche. Bristol-Myers licensed BMS-986168 to Biogen for an upfront payment of $300 million and up to $550 million in milestones, plus royalties and a near-term $60 million milestone. BMS-986168 is an antibody that targets extracellular tau, which are the proteins that form tangles in the brain associated with Alzheimer’s disease and other neurodegenerative disorders such as progressive supranuclear palsy (PSP).
The deal with Roche was for BMS-986089, an anti-myostatin adnectin for Duchenne muscular dystrophy (DMD). Roche paid $170 million upfront with $205 million in potential milestones.
In terms of this year, the company is presenting Phase I and II data for Opdivo and Incyte’s ID01 inhibitor for advanced solid tumors at the June ASCO conference. They will also release some data from a Phase III trial of Opdivo for 1L melanoma.
Bristol-Myers Squibb stock is currently trading for $54.44.
3. Eli Lilly and Co.
In March, Eli Lilly and Co. announced that its MONARCH 2 Phase III clinical trial of abermaciclib for breast cancer met its primary endpoint of progression-free survival (PFS). It was being evaluated in combination with fulvestrant in patients with hormone-receptor-positive (HR+), human epidermal growth factor receptor 2-negative (HER2-), advanced breast cancer patients who have relapsed or progressed after endocrine therapy. The addition of the drug to fulvestrant showed statistically significant improvement in PFS compared to the control, which consisted of a placebo plus fulvestrant.
The company will also have an investor webcast at the ASCO conference. Sometime in the second half of this year, Lilly is expected to release Phase III readouts for galcanezumab for migraine prevention and Lasmiditan for acute migraines.
Eli Lilly is currently trading for $78.23.
4. Merck & Co.
Merck & Co.’s had a pretty good year so far. Just last week, the U.S. Food and Drug Administration (FDA) approved its Keytruda for two new indications. For first-line treatment, Keytruda was approved for patients with locally advanced or metastatic urothelial carcinoma who are ineligible for cisplatin-contain chemotherapy. Urothelial carcinoma is a type of bladder cancer. For second-line treatment, Keytruda was approved in locally advanced or metastatic urothelial carcinoma in patients who have disease progression during or following platinum-containing chemotherapy or within 12 months of neoadjuvant or adjuvant treatment with platinum-containing chemotherapy.
The company has several presentations at ASCO, including follow-up data from KENOTE-021G, and Phase I/II data for Keytruda with Incyte’s ID01 inhibitor for advanced solid tumors. It also expects more Keytruda Phase III readouts for 1L non-small cell lung cancer (NSCLC) and other indications later this year.
Merck stock is currently trading for $65.12.
5. Pfizer
In the first half of this year, which is just around the corner, Pfizer is expected to have Phase III readouts for avelumab in gastric cancer. Later this year, it’s expected to release data on the drug in non-small cell lung cancer. The company is also waiting for the FDA to decide in December on Xeljanz and Xeljanz SR for psoriatic arthritis and ertugliflozin and several combinations for type 2 diabetes.
Pfizer stock is currently trading at $32.12.