AstraZeneca’s £93m headache as it dumps another new drug
Struggling AstraZeneca today faced yet another blow when it had to dump a new arthritis treatment because clinical trials showed patients were hit with side-effects including the common cold.
Pulling development on fostamatinib, a rheumatoid arthritis pill, means a $140 million (£93 million) impairment charge. But analysts were more worried about Astra’s floundering pipeline. The experimental medicine was one of the very few late-stage drugs in Astra’s research labs, and Britain’s second-biggest drugmaker had put it through clinical trials for two and a half years, on more than 2100 patients.
Fostamatinib, which Astra was working on with US biotech Rigel Pharmaceuticals, was seen as a potential competitor to drugs such as Abbott Laboratories’ Humira, the world’s best-selling prescription medicine, in an arthritis market worth $20 billion (£13 billion).
But Astra admitted patients taking part in the drug’s trials had faced a cocktail of side-effects including hypertension, diarrhoea, nausea, headache and colds. Analysts said that meant more than six drug failures from Astra’s pipeline in recent years. A string of AstraZeneca’s big-selling drugs fell out of patent last year, leaving revenues down 17%. The US patents for its best-selling drugs, Nexium ulcer pills and cholesterol-buster Crestor, expire within three years.
- 1 Husband creates spreadsheet detailing wife's 'excuses' for turning down sex
- 2 UK pirates will get four warning letters a year
- 3 Saneie Masilela, 9, marries Helen Shabangu, 53 years his senior, for the second time
- 4 Time runs out for Christian Iraq: Isis deadline passes with mass flight
- 5 Why I'm on the brink of burning my Israeli passport
Saneie Masilela, 9, marries Helen Shabangu, 53 years his senior, for the second time
Time runs out for Christian Iraq: Isis deadline passes with mass flight
Miley Cyrus death hoax: Fans distraught after Facebook scam goes viral and she doesn't tweet for three days
Malaysia Airlines MH17 crash: France and Germany accused of going soft on Putin as sanctions talks stall
Israel-Gaza conflict: Deadly flechette shells 'used by Israeli military in Gaza Strip’
Malaysia Airlines flight MH17 crash: 'Nine Britons, 23 Americans and 80 children' feared dead after Boeing passenger jet is 'shot down' near Ukraine-Russia border
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The truth about conspiracy theories is that some require considering
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: victims’ bodies bundled in black bags and loaded onto trains
Malaysia Airlines MH17 crash analysis: A tragic lesson of advanced weapons in the wrong hands
- < Previous
- Next >
iJobs Money & Business
£28000 - £32000 per annum + benefits: Ashdown Group: Training Programme Manage...
£28000 - £32000 per annum: Ashdown Group: Training/Learning and Development Co...
£60000 - £75000 per annum + BONUS + BENEFITS: Harrington Starr: Business Anal...
£70000 - £90000 per annum + Job Satisfaction: Harrington Starr: Project Manage...