After ASH, Amgen Assuages Wall Street Over Kyprolis CV Concerns
This article was originally published in The Pink Sheet Daily
The biotech took time to address the recent suspicion that there are more cardiovascular events than previously expected with Kyprolis. But the bottom line is that head-to-head efficacy and safety data against Velcade, another multiple myeloma proteasome inhibitor, simply aren’t available yet.
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The addition of Onyx’s cancer drugs to Amgen’s portfolio will fill a near-term sales gap for the big biotech and reinforce the company as a major oncology player. But Amgen will need to execute expertly on the merger if it is to transform itself into a high-growth biotech.
Mortality for this deadly disease has been pushed back due to therapeutic innovations. But to make further strides, new mechanisms of action and combination approaches will need to come further into play. These advances and the eventual genericization of Velcade are likely to make the regulatory and payer environment increasingly complicated.
Onyx Pharmaceuticals is working to execute on two launches and produce late-stage data that will enable it to add more indications to its growing roster of marketed drugs. If it succeeds, it could eventually rival competitor Celgene as one of the few biotechs to move from a small cap into the big cap ranks, but any stumbles could slow or eliminate Onyx’s evolution.