Gilead and Galapagos are ending all studies of an experimental drug for lung disease after independent reviewers determined its benefits do not outweigh the risks.
The decision to end research on ziritaxestat, which was being tested as a treatment for idiopathic pulmonary fibrosis, marks a second major failure for the Gilead-Galapagos partnership. In August, the Food and Drug Administration unexpectedly rejected filgotinib, a rheumatoid arthritis drug that was central to the 10-year, $5 billion pact the companies inked in mid-2019.
Galapagos and Gilead didn’t provide details of the issues with ziritaxestat in a Wednesday release. Rather, they said data would be presented at future medical meetings. The monitoring board acted in part because of mortality trends observed among patients, Mizuho Securities analyst Salim Syed wrote in a note to investors, citing a statement he received from Gilead. Galapagos shares tumbled 18% Wednesday. READ MORE
by Kristin Jensen
The new company will have four complementary businesses: Perfumery & Beauty, Food & Beverage/Taste & Beyond, Health, Nutrition & Care and Animal Nutrition & Health, each with strong market positions and expertise to address emerging consumer trends. The businesses will also prioritize environmental sustainability, health and well-being.
Merck (MSD) has signed a definitive agreement for the acquisition of all outstanding shares of Imago BioSciences for a total equity price of nearly $1.35bn. A clinical-stage biopharmaceutical firm, Imago focuses on the development of new therapies to treat myeloproliferative neoplasms (MPNs) and other bone marrow ailments.
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