Pfizer’s Obesity Drug Not to Move to Phase III Following Side-Effects: Pfizer announced top-line data from a phase IIb study evaluating its twice-daily oral GLP-1R agonist candidate, danuglipron, in adults with obesity. The boards of directors of both companies have approved the transaction. The transaction is expected to close in mid-2024, subject to shareholder and regulatory approval. Data from studies on emraclidine, darigabat and tavapadon are expected in 2024. The acquisition will strengthen AbbVie’s neuroscience pipeline by adding CERE’s novel pipeline candidatesbeing studied across a range of psychiatric and neurological disorders, including schizophrenia, Parkinson's disease (PD) and mood disorders.Ĭerevel’s key pipeline candidates are emraclidine (phase II for schizophrenia), tavapadon (phase II for PD) and darigabat (phase II for epilepsy and panic disorder). Recap of the Week’s Most Important StoriesĪbbVie to Buy Cerevel Therapeutics: AbbVie offered to buy Cerevel Therapeutics for $45 per share in cash, which adds up to a total equity value of approximately $8.7 billion. Pfizer ( PFE Quick Quote PFE - Free Report) decided not to move forward with phase III studies on its twice-daily weight loss pill, danuglipron, due to side effects seen in a phase IIb study. ![]() J&J ( JNJ Quick Quote JNJ - Free Report) announced sales and earnings growth expectations for 2024 and the 2025-2030 period. ![]() The FDA approved Novartis’ ( NVS Quick Quote NVS - Free Report) rare blood disorder drug, Fabhalta (iptacopan) and Eli Lilly’s ( LLY Quick Quote LLY - Free Report) Jaypirca for its second leukemia indication. ![]() This week, AbbVie ( ABBV Quick Quote ABBV - Free Report) announced a definitive agreement to acquire neuroscience drugmaker Cerevel Therapeutics for $8.7 billion.
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