AstraZeneca axed its RSV drug motavizumab and with it took a $445 M write off. What's more? This kills its chance to bring to market a successor to its blockbuster Syngaxis. Woe is me!
PharmaGossip: AstraZeneca drops drug, takes $445 mln charge | Reuters.
Ultimately, the new therapy failed to show improvement over Syngaxis and also exhibited significant side effects. So far as a result, AZ's acquisition of MedImmune for $15.6 B has been a complete bust in terms of delivering new licensed biotherapeutics to market - and the old ones are losing patent protection.
This is a GIANT lump of coal this Christmas.
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