Medarex

Medarex shares dented on analysts' skepticism

Tue, 03 Jun 2008 06:59:56 -0400

Investors dented the value of Medarex shares after analysts doused its recent claims concerning its late-stage cancer drug ipilimumab with cold water. BMO Capital Market's Jason Zhang says that Medarex doesn't have the data to back up claims that a combination of ipilimumab and dacarbazine work better than ipilimumab alone. Its shares slipped seven percent on the news.

"There is no randomized data with a chemotherapy control supporting ipilimumab's survival-prolonging abilities," said Zhang in a note. Mid-stage study data demonstrated median overall survival of 449 days on the combo therapy compared to 351 days with ipilimumab alone. That was not a statistically significant difference in survival.

- read the AP story

Medarex shares slide on news of drug app delay

Mon, 28 Apr 2008 06:59:55 -0400

Shares of Medarex slipped seven percent this morning as investors digested Friday's announcement that its application for a new cancer drug will be delayed into 2009. The developer says that the FDA wants more data on ipilimumab, which is in late-stage trials. Bristol-Myers Squibb is partnered on the therapy, which is being investigated as a new treatment for metastatic melanoma. The agency is looking for more data on overall survival rates. That left the analysts scrambling to calculate the revenue the company will lose as a result of the delay. Medarex shares have lost more than half of their value since last summer.

- see Medarex's release
- read the AP report

Pfizer halts Phase III cancer trial on poor results

Wed, 02 Apr 2008 07:59:58 -0400

Pfizer's big push into cancer drugs has hit a snag. The company announced that it is halting a late-stage trial of tremelimumab for advanced melanoma after researchers concluded it was no more effective than standard chemotherapy. More data from the clinical development of the drug will be revealed at the annual ASCO meeting in June. The move to shutter the trial follows Pfizer's decision to beef up its R&D spend on cancer therapies from 12 percent of its budget to 20 percent. And Pfizer has every intention of staying focused on the field as well as tremelimumab.

"Although this outcome is disappointing, Pfizer remains committed to investigating new treatment options for patients with melanoma, a high-risk area of research with significant unmet medical need," said Dr. Charles Baum of Pfizer Global Research and Development. "We continue to focus on additional studies involving tremelimumab alone and in combination with other therapies which are currently ongoing in patients with several types of cancer."

- see Pfizer's release
- read the report in the Wall Street Journal

ALSO: The news from Pfizer stung at Medarex after analysts concluded that a failure for tremelimumab also spelled trouble for another partnership it has with BMS to develop ipilimumab. Its stock dropped 14 percent. Report

Related Articles:
Pfizer seeks salvation in late-stage biotherapeutics. Report
Is Pfizer's CEO as bold as promised? Report
A look inside Pfizer's biotech center. Report
Pfizer hires new R&D chief, launches biotech center. Report
Speculation soars over Pfizer's interest in biotech. Report

ALSO NOTED: Flamel shares buoyed by partnership buzz; Medarex cuts stake in Genmab; Bush offers new stem cell funds; and much m

Wed, 30 Jan 2008 06:59:50 -0500

> Shares of France's Flamel Technologies were buoyed by an analyst's prediction that the company was nearing a late-stage partnering deal. Report

> Medarex has cut its stake in Genmab as analysts began raising some big questions over the possibility of a buyout. Report

> During the State of the Union address, President Bush promised of new government funding for scientists advancing the uses of skin cells to replace embryonic stem cells in medical research. Report

> A team of scientists have spun off a company to commercialize a new chemical synthesis that they say can far more efficiently create and manufacture new compounds. Report

> Even as the demand for new antibiotics grows, new research programs to advance fresh therapies have been drying up fast. Report

> On a mission for more info on how companies set top execs' pay, the SEC has been pushing for details--and now it's knocking on doors at Bristol-Myers Squibb, Boston Scientific, and Baxter. Report

> Alfacell announced that 311 evaluable events (patient deaths) have occurred in the Phase IIIb clinical trial of its lead compound, ONCONASE, for unresectable malignant mesothelioma. Release

> Roche just posted sales of $42.2 billion, $2.4 billion more than its Swiss rival Novartis' $39.8 billion. Report

> Merck reported a whopping $1.6 billion loss for the fourth quarter. Report

And Finally... Is synthetic biotechnology the next big thing in drug R&D? Report

Anti-TNF blockbuster garners positive Phase III data

Thu, 08 Nov 2007 06:59:58 -0500

Schering-Plough, Johnson & Johnson and Medarex unveiled positive new data from two late-stage studies of golimumab, an experimental anti-TNF therapy designed to treat conditions related to rheumatoid arthritis. The data on reducing symptoms of psoriatic arthritis and ankylosing spondylitis was presented at the American College of Rheumatology meeting in Boston. Golimumab works by blocking tumor necrosis factor (TNF), an inflammatory protein. If approved, golimumab would join the ranks of such anti-TNF blockbusters as Enbrel, Humira and J&J's own Remicade. And the companies say they'll be well positioned to compete. Golimumab requires injections only once a month, compared to higher frequencies for those existing drugs.

Slightly more than half of the psoriatic arthritis patients taking a 50 mg dose reported a reduction of symptoms of 20 percent or more compared to 9 percent of the volunteers receiving a placebo. About 60 percent of the patients taking either the 50 mg or 100 mg dose of the drug reported a 20 percent or greater reduction in symptoms for ankylosing spondylitis after 14 weeks. Late-stage data on rheumatoid arthritis is expected next year, and J&J is planning NDAs on all three indications for 2008.

"The availability of treatments that target TNF-alpha have dramatically changed rheumatologists' approach to the management of psoriatic arthritis, a potentially disabling inflammatory disease," said Arthur Kavanaugh, MD, Professor of Medicine, University of California, San Diego, School of Medicine, and lead study investigator. "These findings show golimumab to be promising in the treatment of multiple facets of the disease, namely the joints and skin, and support the utility of this anti-TNF-alpha treatment."

- check out the release for more info

Related Articles:
Study highlights risks of anti-TNF antibody class. Report
J&J presents pipeline to skeptical analysts. Report
Scientists unveil new pathway for rheumatoid arthritis. Report
MAbs are hottest segment of biotech industry. Report

BMS misses a beat in cancer comeback

Fri, 26 Oct 2007 06:59:54 -0400

Amid the upbeat tone to yesterday's release of third quarter income at Bristol-Myers Squibb, executives hit a sour note with their announcement that they would probably not seek FDA approval of their bladder drug vinflunine. The therapy had been a key part of BMS's strategy for a comeback in cancer therapies. Feedback from the FDA prompted the reversal. BMS is expected to seek approval soon for the melanoma drug ipilimumab, which is being developed in partnership with Medarex.

- here's the report
- and here's an article from Scientific American on BMS' cancer efforts

ALSO NOTED: Genzyme has made best offer for Bioenvision; Pfizer wants investigators to pursue ex-employee; GSK licenses IP; and

Thu, 27 Sep 2007 06:59:50 -0400

> Genzyme says its current bid for all the shares of Bioenvision it doesn't already own is its best and final offer. Release

> Pfizer wants the feds to throw the book at a former employee who copied personal data on some 34,000 workers and took it off site. Report

> GlaxoSmithKline has licensed reverse genetics IP for influenza vaccine strains from MedImmune. Release

> Medarex and PharmAthene have received a $14 million contract from the U.S. government to continue funding an anthrax vaccine. Release

> San Diego-based Asphelia Pharmaceuticals has named Francois-Xavier Frapaise, M.D.,as president and CEO. Release

> The FDA issued a warning yesterday on Fentora, the Cephalon painkiller recently linked to three deaths. Report

> As Novartis CEO Daniel Vasella predicted last week, the FDA has rejected the company's Cox-2 painkiller Prexige. Report

And Finally... Researchers at MIT have developed a computer model which they say can rev up the effectiveness of an antibody-based therapy. Report

ALSO NOTED: Medarex therapy gains fast track; J&J suspends trial; and much more...

Wed, 06 Dec 2006 19:01:30 -0500

> The FDA has put Medarex's MDX-010 skin cancer therapy on the agency's fast track. Report

> Johnson & Johnson says that problems experienced by a vendor in distributing drugs for the clinical trials of golimumab for RA will force it to temporarily suspend enrollment in some Phase III studies. J&J says it will resolve the problem quickly. J&J is co-developing the drug with Schering-Plough. Report

> India's Dr. Reddy's is developing a combinational therapy for heart disease. Report

> Basilea Pharmaceutical is exercising its co-promotional option with Cilag on an investigational antibiotic. Report

> WuXi PharmaTech and Merck have agreed to extend and expand an agreement through which WuXi provides a variety of chemistry-related R&D services. Release

> Researcher touts new work on insulin-producing cells. Report

> Scientists find potential Achilles heel in flu virus. Report

> Stem cell transplant may be successful against Parkinson's. Report

And Finally… A string of deaths this year has led some researchers to wonder if marathons are too much of a good thing for runners. Article

C&L: Drakeman resigns from Medarex

Tue, 07 Nov 2006 19:01:32 -0500

Medarex CEO Donald Drakeman (photo) resigned his post as the company issued new findings in its investigation of how stock options were granted over the past 10 years.

Bradford A. Zakes was named president and CEO of ImaRx Therapeutics.

ARCA Discovery has named Richard B. Brewer president and CEO.

Meiken Krebs has been appointed president and CEO of EMD Chemicals has.

Excel Life Sciences has hired Dr. Vijai Kumar as the company's president and chief medical officer.

Acumen Pharmaceuticals has promoted Dr. William F. Goure to the post of COO.

Scott McCallister, M.D. has joined Panacos Pharmaceuticals as chief medical officer.

Invitrogen Corporation promoted Bernd Brust to the newly-created position of senior vice president of sales for Europe and the Americas.

Ciphergen Biosystems named Debra A. Young vice president and CFO.

Symphogen has named Christian Meyer, M.D., Ph.D., vice president of clinical development.

Daniel B. Soland has joined the Viropharma as its vice president and COO.

Mark Longer, Ph.D., has joined Napo Pharmaceuticals as its vice president, program planning and management.

Dynavax Technologies named Michael Ostrach as VP, chief business officer and general counsel.

Pharmacopeia has appointed Rene Belder, M.D., as vice president, clinical and regulatory affairs.

KAI Pharmaceuticals has named Dirk B. Mendel, Ph.D. as vice president of pharmacology & preclinical pharmacokinetics and pharmacodynamics.

Compugen has appointed Eli Zangvil, MD, as vice president, business development.

AtheroGenics named J. Christopher Prue, RPh to the position of vice president, regulatory affairs.

Inimex Pharmaceuticals has named Dr. K. Jeffry Wilson as vice president of product development.

BioInformatics has appointed Rowena Roberts, Ph.D. as director of marketing and sales.

Aradigm Corporation has appointed John M. Siebert, Ph.D. to the board of directors.

King Pharmaceuticals named Philip A. Incarnati to the company's board of directors.

MacuSight has named Brian C. Cunningham to its board of directors.

SpeciGen has named David Goldsteen, MD, to its board of directors.

BioXell announced that Thomas Szucs, member of its board of directors, has been appointed chairman of the board, replacing Michael Steinmetz who will remain on the board.

Ikonisys has appointed J. Timothy Corcoran to its board of directors.

National Stem Cell Holding announced that Michael J. Shamblott, Ph.D., a founding member of the Johns Hopkins University School of Medicine's Institute for Cell Engineering, has been named the company's chief scientific advisor.

ALSO NOTED: Catalyst prices IPO; Hollis-Eden raises money; and much more...

Tue, 07 Nov 2006 19:01:30 -0500

> Catalyst Pharmaceutical Partners has priced its IPO of 3.4 million shares at $6 per share. Report

> Hollis-Eden Pharma is raising $26 million from the sale of shares. Report

> Medarex and PacMab struck a deal to market antibody-based drugs for blood cancer. Details of the deal were not released. Report

> Boehringer Ingelheim is touting three new anti-cancer therapies during its R&D press conference today. Release

> A group of Mayo Clinic-affiliated researchers studying arthritis drugs has publicly apologized for failing to fully disclose financial ties to the pharmaceutical industry. The researchers, who looked at cancer risks among patients taking Remicade, Enbrel and Humira for rheumatoid arthritis, published the results of their study last year in the Journal of the American Medical Association. Report

And Finally… The World Health Organization tapped the noted bird flu expert Dr. Margaret Chan, a Chinese national, to be its next director-general. Article

ALSO NOTED: Generic Plavix grabs big market share; Medarex to collaborate on antibodies; and much more...

Mon, 21 Aug 2006 20:00:50 -0400

> The generic version of Plavix has already claimed slightly more than 60 percent of the total market for the drug and 74 percent of all new prescriptions. In court testimony yesterday a financial expert hired by Apotex says that if the generic drug maker loses its fight to continue selling the drug, it would cost the company $4 billion. Report

> Medarex and Germany's GenPat77 Pharmacogenetics will collaborate on developing new human antibody products. Report

> The popular acne drug Roaccutane, made by Roche, has been linked to high cholesterol levels and damage to the liver. Report

> GenVec announced plans for the first human therapeutic clinical trial involving the company's adenoviral-vector technology used in an HIV vaccine candidate. Release

> GlaxoSmithKline is developing a research project into gastrointestinal diseases in collaboration with Alimentary Pharmabiotic Centre in Ireland. Report

> Myriad Genetics has closed enrollment for its Phase III trial of the Alzheimer's drug Flurizan. Report

> Nabi Biopharmaceuticals has agreed to pay a schedule of milestones payments to ProMetic Life Sciences for the use of ProMetic's Mimetic Ligands technology in the manufacturing of selected plasma-derived hyperimmune products. Release

And Finally… Cases of potentially lethal M.R.S.A. continue to grow around the country. Article

ALSO NOTED: Ono to start cancer trials; Ligand CEO steps down; and much more...

Mon, 31 Jul 2006 20:00:50 -0400

> The FDA has given Medarex, the U.S. partner of Japan's Ono Pharmaceuticals, permission to begin clinical trials of the experimental cancer drug ONO-4538/MDX-1106. The two developers have been engaged in a collaboration based on Ono's IP and Medarex's human antibody development system. Report

> Chutes & Ladders: Ligand Pharmaceuticals CEO and Chairman David Robinson stepped down to pursue other opportunities. Report

> Critical Therapeutics has filed an NDA for a controlled-release formulation of zileuton for asthma in adults and children aged 12 years or older. Report

> Barr Laboratories has won FDA approval to manufacture a copycat version of Xanax, a therapy for panic disorder. Report

> MGI Pharma has won orphan drug status from the European Medicines Agency for Dacogen as a therapy for acute myeloid leukemia. Report

> Baxter Healthcare and Innovata have received FDA approval for their Adept adhesion reduction solution. Report

And Finally... Sen. Hillary Rodham Clinton (D-NY) spent some time in Buffalo yesterday talking up biotech as an engine for economic development. Article

ALSO NOTED: Nutra Pharma buying ReceptoPharm; Altana may sell to investors; and much more...

Sun, 18 Jun 2006 20:00:50 -0400

> Nutra Pharma has inked a deal to buy the shares of ReceptoPharm it doesn't already own. Release

> The Financial Times is reporting that Altana may sell its pharmaceuticals division to financial investors. Report

> Shares of the U.K.'s BTG dropped after it announced it would proceed with a Phase II study of an experimental therapy for varicose veins without a hoped-for development partner. Report

> Medarex announced that the FDA has approved a clinical trial of MDX-010 for suppressing cancerous tumors. Report

> ISTA Pharma has licensed the North American rights to two drug candidates from Senju Pharma. Report

> Cytogen says early results for a clinical trial of its experimental therapy for bone cancer, Quadramet, demonstrated some results for patients. Report

> Three executives from the Italian drug company Recordati were arrested on charges they bribed doctors to prescribe their therapies. Report

> Beijing-based Sinovac has reported positive results from an early study of an avian flu vaccine. Report

> NovaCardia presented positive results from two Phase II trials of KW-3902, a proprietary adenosine A1 receptor antagonist in development for the treatment of congestive heart failure at the Heart Failure 2006 Congress taking place in Helsinki, Finland. Release

And Finally... The mixing of animal and human cells is growing more exotic. Article (WSJ sub. req.)

ALSO NOTED: AVI BioPharma shares hammered; FDA reviews expert panels; and much more...

Tue, 09 May 2006 20:00:50 -0400

> Shares of AVI BioPharma were hammered after researchers reported weaker-than-expected data from a clinical trial of its hepatitis C therapy. The company stressed the data is preliminary. Report

> The FDA has begun a review of the activities of its expert advisory panels to study the best practices of the groups and offer guidelines on how they should operate. Panels have some guidelines to go by now, but drug developers have complained of inconsistencies in how some of them review drugs and offer their opinion on approvals. Article (WSJ sub. req.)

> Novacea has slashed its IPO price to $6.50 a share from $11 to $13 a share. The biotech still plans to offer 6.25 million shares. Report

> Hawaii Biotech's board has blessed its merger with Australia's Avantogen and will keep its headquarters in Hawaii. Researchers there are working on an avian flu vaccine. Report

> GlaxoSmithKline has won an injunction against animal rights extremists in the UK who have been sending out threatening letters to shareholders demanding that they sell their shares in the company. Report

> Avanir Pharmaceuticals plans to consolidate its San Diego research facilities and relocate its corporate staff to Orange County. Report

> The Boston Globe has a follow-up to yesterday's announcement that Merck is buying GlycoFi for $400 million, offering some additional insight into the relative significance of the deal. Merck is paying the highest cash price ever offered for a private biotech company. Article

> Oxford Genome Sciences and Medarex have agreed to a pact to develop new therapeutic antibodies for oncology. Release

> Denver-based Ceragenix has inked a research pact with Johns Hopkins. Release

And Finally... One school in Scottsdale is shuttering shop classes in favor of biotechnology. Report

DEALS: GSK, Sirna sign $700M development deal

Wed, 12 Apr 2006 20:01:32 -0400

GSK, Sirna sign $700M development deal

DEALS
WHO	WITH	WHAT	SCOOP
GSK	Sirna Therapeutics	Development deal	Sirna Therapeutics will develop RNAi therapies for respiratory diseases in a deal worth up to $700 million.
GSK	Pharmacopeia	Research agreement	GSK will pay Pharmacopeia $15 million and the companies will collaborate to deliver therapeutic candidates for development.
Abbott	Myriad Genetics	Research agreement	Abbott and Myriad Genetics have entered into a five-year research agreement to identify new therapeutic targets
Ono Pharmaceutical	Medarex	Development deal	The companies will develop a fully human anti-SDF-1 antibody.
EPIX	Predix	Merger	EPIX will pay $90 million for Predix and gain several advanced clinical programs.
Adventrx Pharmaceuticals	SD Pharmaceuticals	Buyout	Adventrx Pharmaceuticals will buy SD Pharmaceuticals for 2.1 million Adventrx shares. Adventrx will gain rights to eight oncology and infectious disease products.
Daiichi Sankyo	Astellas	Purchase	Daiichi Sankyo has purchased the OTC unit of Astellas for 20 billion yen.
Biogen Idec	Astellas Pharma	Sale	Biogen Idec sold its underperforming psoriasis drug Amevive for $60 million to Astella as part of Biogen's restructuring plan, announced last fall as it grappled with Tysabri problems.
GSK	Kissei	Licensing deal	GSK will pay up to $98 million for Kissei's experimental diabetes drug, which is still in the preclinical stage.
Santen Pharmaceutical	Oakwood	Licensing deal	Santen has licensed the microsphere formulation of a steroid (DE-102) for diabetic macular edema from Oakwood.
AlphaRx	Proprius Pharmaceuticals	Licensing deal	The companies have entered into a license agreement giving Proprius exclusive global rights to AlphaRx's topical NSAID, Indaflex, currently in Phase II trials for osteoarthritis.

ALSO NOTED: PTC files for $86M IPO; Researchers tout gene therapy results; and much more...

Sun, 02 Apr 2006 20:00:50 -0400

> PTC Therapeutics has filed for an IPO designed to raise $86 million. Report

> In a rare bout of good news for the gene therapy field, researchers said they used the treatment to cure two people with a rare immune disorder. Researchers said the advances in treating the two German patients with chronic granulomatous disease, or CGD, marked an important proof-of-principle for the therapy. Article

> The FDA has approved CancerVax's IND for D93, a humanized monoclonal antibody that has demonstrated an ability to inhibit tumor activity. Preclinical studies with D93 have demonstrated its ability to reduce angiogenesis and inhibit tumor growth in in vivo models of several types of cancer. CancerVax plans to initiate a Phase 1 clinical trial to evaluate the safety and tolerability of D93 in the treatment of patients with solid tumors later in 2006. Release

> Merck KGaA has received European approval to market Erbitux for head and neck cancer. Regulators based their approval on Phase III data demonstrating significant gains in median survival times for patients. Report

> Takeda has filed an NDA with the FDA for an extended release version of its diabetes drug. Report

> Medarex is raising $10 million to fund new product development work. Article

> Teva has received approval for marketing a generic version of Novartis' Desferal for injection. Report

> Genzyme has received European marketing approval for Myozyme, an enzyme replacement therapy for Pompe disease. Release

And Finally…The long controversy over requiring parity in insurance coverage for mental health has been renewed with new data suggesting that equal benefits do not drive up costs of mental healthcare. The issue has been mired in Congress for years. Report

GSK, Pharmacopeia enter discovery alliance

Wed, 29 Mar 2006 19:01:36 -0500

Pharmacopeia and GSK have entered into a drug discovery and development alliance in which the companies will collaborate to deliver therapeutic candidates. Pharmacopeia will work on discovering active molecules and bring them forward to clinical proof of concept and GSK will be responsible for Phase III trials and commercialization. Pharmacopeia will receive $15 million in cash payments from GSK, and each successful drug candidate could garner Pharmacopeia $83 million plus royalties.

- see this release for more

PLUS: Tokyo's Ono Pharmaceutical and Medarex have signed a deal to develop a fully human anti-SDF-1 antibody. Release

ALSO: Another Tokyo-based company, Santen Pharmaceutical, has licensed the microsphere formulation of a steroid (DE-102) for diabetic macular edema from Oakwood of Ohio. Release

SPOTLIGHT: Anthrax therapy wins orphan status

Sun, 05 Mar 2006 19:01:33 -0500

Medarex has obtained orphan drug status for Valortim, a treatment for anthrax infection. Researchers believe that the therapy has the potential to provide immediate immunity. Report

ALSO NOTED: MS drug successful in mid-stage trial; Biotechs line up for London exchange; and much more...

Sun, 08 Jan 2006 19:00:50 -0500

>Biogen Idec says a mid-stage trial of a new MS drug met its goal of demonstrating reduced numbers of brain lesions compared to a placebo. Report

> A group of 10 biotech and healthcare companies are preparing to go public in London, drawn by AIM's fast-track listing process. The companies include San Francisco-based Entelos, which has been making computer simulations to study skin allergies. Report

> Vertex Pharmaceuticals' Hepatitis C pill was found effective in a small study. Report

> Serono says that its recombinant human growth hormone for treating HIV-associated Adipose Redistribution Syndrome hit all primary and secondary endpoints outlined in a pivotal Phase III trial. Serono says it will file a supplemental NDA for the growth hormone in the first half of this year. The therapy is intended to treat the accumulation of fat under the abdominal muscle wall. Article

> Bristol-Myers Squibb and Gilead Sciences say they have obtained data supporting the bioequivalence of a new formulation of the fixed-dose combination of BMS's Sustiva and Gilead's Truvada. Release

> Endo Pharmaceuticals has licensed the North American rights to Synera. Report

> Alkermes and Eli Lilly have agreed to jointly develop an inhalable version of an osteoporosis therapy. Report

> The FDA has put a new therapy being developed by Medarex on the fast track. Valortim could be used to combat anthrax. Report

> Phytopharm has inked a global distribution deal with Schering-Plough for Phytopica, a plant-based therapy used to help create healthy skin and coat for dogs. Report

> Analysts report that AstraZeneca is facing a significant risk it may lose its patent on its blockbuster heart drug, Toprol XL. Report

> Chromos Molecular Systems and Pfizer have expanded their collaboration deal. Release

> Protalex has raised $5.8 million through a private placement. Release

> Hana Biosciences says it has recorded positive results for its Phase I trial of Zensana for nausea and vomiting. Release

And Finally… In San Diego, if you want to play with the big boys and girls in biotech, it helps to surf. Article

MedImmune prepares human trials for new lupus therapy

Thu, 13 Oct 2005 20:01:35 -0400

MedImmune of Gaithersburg, MD, is preparing to ramp up human trials of a new lupus treatment. The drug developer filed an IND application with the FDA and plans to begin human tests next year. The application springs from a collaboration MedImmune struck with Medarex in 2004 on two antibodies. MedImmune believes that it can develop a therapy to prevent flareups of lupus and trials would show if it can cure the ailment. Its work follows a recent announcement from Human Genome Sciences that its experimental lupus drug saw disappointing trial results. HGS added, though, that the data warranted further investigation. No new drug for lupus has been approved in the last 40 years.

- read this article from The Washington Post for more