Allergan’s $560 million deal to buy Naurex has led it straight down a blind alley for depression drugs, where it’s been mugged by a decisive set of failed late-stage data.
Brent Saunders’ biotech $AGN announced after the market closed that rapastinel had flunked the big set of Phase III studies used to test the drug for major depression. Topline results from 3 Phase III trials along with a late-stage test on relapses proved conclusively that the drug had none of its intended effects — either on the primary or secondary endpoints.
While depression has proved one of the toughest fields in biopharma, recently defeating Alkermes $ALKS in its own late-stage showdown, this marks a particularly bitter passage for Allergan, which has had a year full of setbacks that has blown up its share price and blistered the CEO as its critics gained force.
Allergan R&D chief David Nicholson said he was “deeply disappointed” and added: “We will evaluate the impact of these data on the ongoing monotherapy MDD program and suicidality in MDD study. We expect to make a decision on these programs during the course of 2019.”
It’s not looking good. Allergan’s shares were trading near their high of $331 when they bought Naurex. Its shares slid 4% to $132 after the bell rang and the news hit.
Naurex execs had built up hopes for this NMDA drug, asserting its belief that it had found just the right way to modulate the target after years of trial and error. They later spun out Aptinyx $APTX following the deal, then marked their own failure weeks ago, which crippled its stock.
艾尔建（Allergan）斥资5.6亿美元收购 Naurex 的交易，使其在治疗抑郁症药物方面走上了一条死胡同。在这方面，一系列决定性的失败后期数据令其措手不及。
布伦特•桑德斯( Brent Saunders )的生物技术公司 AGN 宣布，在市场收盘后，该公司宣布，雷帕司太尔已放弃了用于测试该药物治疗抑郁症的三期大型研究。三期三期试验和后期复发试验的结果最终证明，该药物没有其预期效果——无论是在主要终点还是次要终点。
虽然抑郁症已被证明是生物制药领域中最棘手的领域之一，最近在自己的后期摊牌中击败了阿尔克摩斯（ Alkermes ）美元的 ALKS ，但这对艾尔建（Allergan）来说是一段特别痛苦的经历。 Allergan 已经经历了一年的挫折，股价大跌，当其批评者获得影响力时，该公司首席执行官大受鼓舞。
艾尔建（Allergan） R & D 首席执行官大卫•尼科尔森( David Nicholson )表示，他“深感失望”，并补充道：“我们将评估这些数据对正在进行的单药 MDD 项目和 MDD 研究中的自杀行为的影响。我们希望在2019年期间就这些项目做出决定。”
这看起来不太好。艾尔建（Allergan）在收购 Naurex 时股价接近331美元的高位。在钟声响起和消息传出后，该公司股价下跌4%至132美元。
Naurex 公司的高管们对这种 NMDA 药物抱有了希望，他们声称，经过多年的试验和失误，他们找到了调整目标的正确方法。后来，他们在交易后剥离了 Aptinyx $ APTX ，然后在几周前标记了他们自己的失败，使其股票瘫痪。