Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • R&D 100 Awards

La Jolla And BioMarin Stop Riquent Trial

By Pharmaceutical Processing | February 12, 2009

NEW YORK (AP) — La Jolla Pharmaceutical Co. and BioMarin Pharmaceutical Inc. ended a trial of the lupus drug candidate Riquent, the companies said Thursday, after reviewers determined the drug wasn’t working. San Diego-based La Jolla developed Riquent and licensed it to BioMarin last month for up to $288.5 million. The California-based companies said they decided to stop the study after a data monitoring board found there was no reason to continue. Riquent is intended to prevent or delay renal flare-ups in patients with the autoimmune disorder lupus. About half of all lupus patients suffer from kidney disease. La Jolla is a development stage biotechnology company with no drugs currently on the market, and no other product candidates in clinical trials. Its stock tumbled $1.79, or 79.2 percent, to 48 cents per share from a Wednesday closing price of $2.31. Novato, Calif.-based BioMarin said it spent only $15 million on the drug, which it deemed a reasonable amount considering the size of the market.

Related Articles Read More >

Pfizer logo
Pfizer seeks to comply with voluntary Net-Zero Standard by 2040
Fujifilm Diosynth Technologies
Fujifilm to spend $1.6B to bolster cell culture manufacturing services
Wyzo
Wyzo high-speed pick-and-place sidebot wins design awards
Purdue University
Purdue University launches institute for advanced manufacturing of pharmaceuticals

DeviceTalks Tuesdays

DeviceTalks Tuesdays

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Need Pharmaceutical Processing news in a minute?

We Deliver!
Pharmaceutical Processing Enewsletters get you caught up on all the mission critical news you need. Sign up today.
Enews Signup
Pharmaceutical Processing World
  • Subscribe to Our Free E-Newsletter
  • Contact Us
  • About Us
  • Advertise With Us
  • R&D World
  • Drug Delivery Business News
  • Drug Discovery & Development
  • DeviceTalks
  • MassDevice
  • Medical Design & Outsourcing
  • MEDICAL TUBING + EXTRUSION
  • Medical Design Sourcing
  • Medtech100 Index

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • R&D 100 Awards