Gilead falls 2.4% as CHMP rejects CF drug

Shares in Gilead Sciences fell 2.4 % to $44.05 in afternoon trading on March 19, after the US drugmaker's cystic fibrosis drug aztreonam lysine  was rejected by the European Medicine Agency's (EMEA) Committee for  Medicinal Products for Human Use (CHMP).

The CHMP adopted a negative opinion on the company's Marketing  Authorization Application for the 75mg powder and solvent for nebulizer  solution of aztreonam lysine, which is an investigational therapy in  development for people with cystic fibrosis who have pulmonary  Pseudomonas aeruginosa infection.

"We are disappointed by the Committee's opinion, but remain committed to  advancing therapies for patients with cystic fibrosis," said Norbert  Bischofberger, Gilead's chief scientific officer. "Chronic pseudomonal  airway infection is the leading cause of morbidity and mortality among  people living with cystic fibrosis, and with a limited number of  treatment choices, there remains a significant unmet medical need," he  added.