Clinical Trials
The Top Phase III Disasters of 2012
October 3, 2012 | By John Carroll
Excerpt:
Every year we see a good number of potential blockbusters come down to the pivotal wire. And in Part II of this feature I'll highlight the biggest potential blockbusters in the clinic stirring a buzz. But no review of the latest crop of blockbusters would be complete without an assessment of the biggest failures. And 2012 has seen some of the biggest failures in the history of drug R&D....
Here are my top 5 flops of the year:
BMS-094 - Bristol-Myers Squibb
BMS-094 takes the top position. Not many biopharma companies can lay claim to this kind of failure. Just 7 months after Bristol-Myers Squibb ($BMY) grabbed this hepatitis C treatment in its $2.5 billion buyout of Inhibitex, the drug and the lion's share of the investment went up in smoke after a patient sickened and then died of heart failure. Other patients were laid up in the hospital as well. The initial cost was $1.7 billion in writeoffs, though some analysts are still trying to figure out why Bristol thinks the other programs obtained from Inhibitex could be worth $800 million....
Aside from the money also invested in the short R&D program, Bristol-Myers Squibb is also staring down some personal injury lawyers who are eager to make the case that the company recklessly exposed their clients to lethal side effects. A few insightful experts have been making a case for the attorneys, noting that there were some clear red flags for this treatment before Bristol-Myers got its hands on the drug.....
Read more here....
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