Source: Reuters
Europe’s biggest biotech company Actelion Ltd (ATLN.VX) said an experimental new drug against a heart and lung condition showed promising results in a mid-stage trial and that it will continue its development.
Actelion is developing a clutch of new medicines as it tries to cut dependence on top seller Tracleer, which also treats pulmonary arterial hypertension (PAH) and rakes in more than $1 billion a year.
The new drug — a so-called PGI2 receptor agonist which mimics the actions of a molecule called prostacyclin, helping to prevent constriction of blood vessels — met its main target and was well tolerated in the Phase IIa trial with 43 patients, the group said.
“The data looks as good as Phase IIa data can at this stage,” said Kepler Capital Markets analyst Tero Weckroth.
“We keep the drug outside the model until seeing details of the Phase IIa study. But it looks increasingly likely that there will be a terminal value for the PAH franchise beyond Tracleer,” Weckroth said.
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