Celltech may abandon launch of treatment for Crohn's disease
Wednesday 31 July 2002
Celltech shareholders suffered a double blow yesterday when the company said it was considering abandoning the launch of its most advanced new drug and would halve its US salesforce.
The drug, Humicade, was being tested as a treatment for Crohn's disease, which causes inflammation of the gut, and had been expected on the market next year. But clinical trials failed to show it was effective.
The data suggests Humicade could still be useful in the treatment of acute forms of the disease, but Celltech said it would talk to US and European regulators to establish if it was likely to gain approval. Analysts predicted that, if the regulator said it would need additional trials to be carried out, the company would drop the product and concentrate development work on a second drug, CDP 870. This is a more effective product treating the same diseases as Humicade.
The company said it is to set up a specialist gastroenterology salesforce in advance of the launch of CDP 870, and that it had paid $6m to the US giant Pharmacia to license Dipentum, a treatment for an inflammatory bowel disorder which had sales of $11m in 2001.
But it is cutting its losses on Metadate, a once promising treatment for hyperactive children. The disappointing sales mean it can no longer sustain a US salesforce of 350, and this will be slashed to 170. The drug will no longer be actively marketed, and sales are unlikely to grow beyond the current $25m a year.
Metadate has struggled in the cut-throat US market for treating hyperactive children. Johnson & Johnson's Concerta has a 25 per cent market share and Shire Pharmaceuticals, the UK's number three drug company, will say later this week that it has won a 26 per cent share with its product Adderall.
Celltech shares fell more than 7 per cent to 397p.
- 1 Malaysian cyclist could face disciplinary action after 'Save Gaza' gloves protest
- 2 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 3 Fifty Shades of Grey trailer provokes moral outrage from US parenting groups
- 4 McDonald’s removes chicken nuggets from the menu in Hong Kong amid major food scare
- 5 Students offered grants if they tweet pro-Israeli propaganda
Israel-Gaza conflict: Israeli targeting policy under scrutiny after shellfire hits a mother and child, a school full of refugees and a doctor’s home
Students offered grants if they tweet pro-Israeli propaganda
McDonald’s removes chicken nuggets from the menu in Hong Kong amid major food scare
Satellite full of sexually experimental geckos adrift in space, Russia loses control of mission
Costa Concordia finally towed from Giglio amid environmental concerns that cruise liner is a 'floating bomb'
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
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: Massive rise in sale of British arms to Russia
iJobs Money & Business
£600 - £650 per day: Orgtel: Conduct Risk Liaison Manager - Banking - London -...
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...
£280 - £300 per day + competitive: Orgtel: Test Analyst, Edinburgh, Credit Ris...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...