Viropharma和Wyeth-Ayerst 公司治疗丙型
NEW YORK (Reuters Health) - ViroPharma Inc. and American Home Product's Wyeth-Ayerst Laboratories said on Monday that they have halted development of their phase IIa hepatitis C treatment VP 50406, after the compound failed to demonstrate desired antiviral activity.
In December 1999, Wyeth-Ayerst signed on to co-develop and co-market ViroPharma's VP 50406 and other hepatitis C drug candidates in the US and Canada, in a deal that called for Wyeth-Ayerst to pay an upfront fee, milestones and royalties, and to take an equity stake in ViroPharma.
Currently, Wyeth-Ayerst holds a roughly 1% stake in ViroPharma.
A spokesman for Wyeth-Ayerst told Reuters Health that the company remains committed to its hepatitis C partnership with ViroPharma, and that the companies expect to move a series of follow-on compounds into clinical trials in the second half of next year.
ViroPharma's stock took a hard hit early in the day, as shares of the company tumbled 2.67 to 21.15, a roughly 11.2% drop, in the morning. However, its shares rebounded somewhat in the afternoon before closing at 23.47, down only 0.35 on the NASDAQ.
On the New York Stock Exchange, shares of Madison, New Jersey-based American Home Products finished the day up 0.41 at 57.38.
Needham & Co. analyst Carolyn Pratt, however, feels that ViroPharma investors over-reacted to the news.
"It's a disappointment," she told Reuters Health, "but a minor setback."
"Everybody knows hepatitis C is very challenging for drug discovery and development. To me, it seems that people are jumping on bad news, versus understanding how relevant it is to the company," she said, adding that the real value driver for the company is Picovir.
Picovir, or pleconaril, is ViroPharma's investigational oral treatment for the common cold. A new drug application for the product was accepted for review by US regulators in October.
Stephen Brozak, of Vanguard Capital, agreed. "They're lead drug is the one most people care about. You tell me there's some problem there and I'll start to be concerned.", 百拇医药
In December 1999, Wyeth-Ayerst signed on to co-develop and co-market ViroPharma's VP 50406 and other hepatitis C drug candidates in the US and Canada, in a deal that called for Wyeth-Ayerst to pay an upfront fee, milestones and royalties, and to take an equity stake in ViroPharma.
Currently, Wyeth-Ayerst holds a roughly 1% stake in ViroPharma.
A spokesman for Wyeth-Ayerst told Reuters Health that the company remains committed to its hepatitis C partnership with ViroPharma, and that the companies expect to move a series of follow-on compounds into clinical trials in the second half of next year.
ViroPharma's stock took a hard hit early in the day, as shares of the company tumbled 2.67 to 21.15, a roughly 11.2% drop, in the morning. However, its shares rebounded somewhat in the afternoon before closing at 23.47, down only 0.35 on the NASDAQ.
On the New York Stock Exchange, shares of Madison, New Jersey-based American Home Products finished the day up 0.41 at 57.38.
Needham & Co. analyst Carolyn Pratt, however, feels that ViroPharma investors over-reacted to the news.
"It's a disappointment," she told Reuters Health, "but a minor setback."
"Everybody knows hepatitis C is very challenging for drug discovery and development. To me, it seems that people are jumping on bad news, versus understanding how relevant it is to the company," she said, adding that the real value driver for the company is Picovir.
Picovir, or pleconaril, is ViroPharma's investigational oral treatment for the common cold. A new drug application for the product was accepted for review by US regulators in October.
Stephen Brozak, of Vanguard Capital, agreed. "They're lead drug is the one most people care about. You tell me there's some problem there and I'll start to be concerned.", 百拇医药