In Risky Gamble, Startup Swoops In On One Of Pharmaceutical Industry’s Biggest Flops
Roche Holding shelved a cholesterol drug after a late-stage study found disappointing results. But Roche's loss is DalCor's gain, as the startup announces a 5,000 patient trial to test its theory that a genetic variation is key to making the drug a success. Meanwhile, Roche has reported an increase in its first quarter revenue.
The Wall Street Journal:
Startup Aims To Revive Failed Drug
A London-based startup is making a risky bet that a surprising genetic variation will enable it to find success in one of the pharmaceutical industry’s biggest flops. DalCor Pharmaceuticals said it has raised $150 million in venture financing to mount a 5,000-patient trial of a cholesterol drug called dalcetrapib that Roche Holding AG shelved after the pill failed to prevent heart attacks and strokes in a phase 3, or late-stage, study of nearly 16,000 patients. (4/19)
The Wall Street Journal:
Roche Revenue Lifted By Cancer And Immunology Drugs
Roche Holding AG on Tuesday reported an increase in first-quarter revenue following strong sales of its cancer and immunology drugs. Basel, Switzerland-based Roche said sales for the three months ended March 31 rose 5% to 12.41 billion Swiss francs ($12.88 billion), from 11.83 billion francs a year earlier. At constant exchange rates, sales increased 4%. That beat analysts’ forecasts of 12.28 billion francs, largely because of a stronger-than-expected performance from Tamiflu, boosted by a late flu season in the U.S. The flu medicine generated 367 million francs in revenue, well above the 244 million francs that analysts had expected. (Roland, 4/19)
