AG-1067 misses Ph III primary endpoint; AstraZeneca may drop AtheroGenics accord
US drugmaker AtheroGenics says that a Phase III, 6,000-patient clinical study of its lead drug candidate, AGI-1067, did not show a difference from placebo in a composite primary endpoint of reduction in risk of death, heart attack or stroke in patients with coronary artery disease.
The anti-inflammatory and anti-oxidant drug, which is the subject of a $1.0 billion licensing agreement with the UK's second-largest drugmaker, AstraZeneca (Marketletter January 9, 2006), failed to reduce a composite of "hard" atherosclerotic clinical endpoints, and also did not improve several key diabetes parameters, including glycemic control.
On the day of the news, March 19, shares in AtheroGenics nose-dived 57.34% to $3.40 in pre-market trading, while shares in Anglo-Swedish drug major AstraZeneca fell 1.8% to L28.28.
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