Home > PHARMA BUSINESS, PHARMACEUTICALCOMPANY > Novartis Cancels Research on Two Drugs

Novartis Cancels Research on Two Drugs

Two drugs that had been undergoing trials, namely Albinterferon alfa-2b and Mycograb, have reached a halt and would be cancelled by the pharmaceutical Company Novartis. While drug Albinterferon alfa-2b was being developed to fight people suffering from chronic hepatitis C, Mycograb was being created for invasive candidiasis in adults.
The discontinuation of the drugs was decided after the feedback that was provided by the European Union and the FDA in USA. The decision was taken after a combined meeting between Novartis and Human Genome Sciences.

The drug Mycograb was being tested as a tag-along therapy to be used along with the drug amphotericin B for candidiasis, which is a yeast infection that affects adults. Prior to the cancellation of development, the European Medicines Agency had rejected Mycograb on two occasions due to safety concerns.
The damage caused by the cancellation of the two drugs would result  in losses worth $360million to Novartis for the third quarter of this year. Besides, the pharmaceutical giant would also be suffering patent losses, thus affecting the revenue for Novartis.
The current situation for the pharmaceutical industry has been turning into a challenging scenario, with Companies turning to an efficient research & development method. Besides, pharmaceutical giants would be looking towards acquiring smaller Companies with innovational drugs to make a stronghold in the market.
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