Teva?s Copaxone Successor Fails in Latest Clinical Trial
By Naomi Kresge
Aug. 1 (Bloomberg) -- Teva Pharmaceutical Industries Ltd.?s experimental multiple sclerosis pill failed to reduce relapses more than placebo in a clinical trial, dealing a blow to the company?s effort to find a successor to an older drug.The medicine, laquinimod, missed the key goal of the study, the Petach Tikva, Israel-based drugmaker said today in a statement. By contrast, a third group of patients who got Avonex, an older injected treatment from Biogen Idec Inc., had fewer relapses than those who got a placebo. Teva?s American depositary receipts fell the most in more than three months.The study reported today, known as Bravo, is the second this year to show disappointing results for the medicine. Analysts expressed skepticism on a conference call with company executives that Teva would be able to win approval from the U.S. Food and Drug Administration for laquinimod. Teva said it aims to submit the drug by early next year.?Laquinimod is dead, if not regulatorily, then commercially,? READ MORE
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