Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Pharmas Regeneron and Teva shares hit by FDA order

Shares of Regeneron Pharmaceuticals and Teva Pharmaceuticals were hit Monday by news of a clinical trial setback for a new pain drug they are co-developing
Pharmas Regeneron and Teva shares hit by FDA order
Investors endure back pain from FDA ruling

Shares of Regeneron Pharmaceuticals (NASDAQ:REGN) and Teva Pharmaceuticals (NYSE:TEVA) were hit Monday by news of a clinical trial setback for a new pain drug they are co-developing.

US regulators put on hold a clinical trial involving an experimental treatment for chronic low back pain due to safety concerns. Regeneron shares closed down 1.3% at $366.73.

Teva, which is collaborating on the drug, saw its US-listed shares drop during the session although the managed to repair the damage and ended flat at $41.80.

The US Food and Drug Administration had ordered the hold and told Regeneron and Teva to amend the study protocol after observing a case of adjudicated arthropathy – a type of joint disease – in one patient who had osteoarthritis. As a result, Regeneron said it had stopped dosing study patients and was working to design a new study phase that excludes patients with osteoarthritis.

The drug, fasinumab, aims to offer treatment for millions of Americans who suffer from chronic low back pain and osteoarthritis without the use of highly addictive opioids, by targeting proteins that grow nerve cells. Rivals Eli Lilly (NYSE:LLY) and Pfizer (NYSE:PFE) are racing to develop a similar drug, tanezumab, which aims to treat osteoarthritis, back pain and cancer pain, which they aim to submit for approval by 2018.

View full TEVA profile View Profile

Teva Pharmaceutical Industries Timeline

Related Articles

GW_Pharma.png
June 07 2017
Midatech has three lead R&D programmes: a carcinoid syndrome treatment; a liver cancer drug; and a brain cancer therapy
woman at a microscope
September 04 2017
Lead product Lojuxta generated revenues of €5.75mln in the first-half

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use