The Readout Loud 331: AbbVie’s stumble, Amgen’s tumble and more election fallout
Nov 14, 2024
AbbVie is reeling from the disappointing results of its schizophrenia treatment, which has sent investor confidence plummeting. Amgen faces turmoil over its obesity drug amid concerns about potential safety issues, leading to a staggering market value drop. The hosts dive into the shifting political landscape's impact on healthcare regulation and drug development. Amidst this serious discussion, there’s also a light-hearted take on how to pronounce Elon Musk's name, showcasing the show's entertaining blend of humor and insight.
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AbbVie's M&A Miscue
- AbbVie's $9 billion acquisition of Caville included the schizophrenia drug, Miraclidine.
- The drug unexpectedly failed two crucial phase two trials, surprising investors.
AbbVie's Neuroscience Bet
- Miraclidine's failure raises questions about AbbVie's neuroscience focus.
- The company heavily invested in the drug following Humira's biosimilar competition.
M4 Targeting vs. Dual Targeting
- The failure of AbbVie's single M4 targeting drug contrasts with Bristol Myers Squibb's success with the dual M1 and M4 targeting drug.
- This raises questions for future neuroscience drug development.