Look back at pharma news in the week to August 9

Research news last week featured a blow for US biotech GlycoMimetics when, along with partner Pfizer, it revealed that the pivotal study of rivipansel had failed in sickle cell disease. In patent wrangle news, Amgen won a favorable court ruling against Novartis’ Sandoz unit for its arthritis drug Enbrel, but an appeal is being lodged by the Erelzi biosimilar maker. On the regulatory front, Novartis is facing an embarrassing investigation over data manipulation relating to the BLA and subsequent approval of gene therapy Zolgensma. Also, Germany’s Bayer announced that it's acquiring full control of its joint venture BlueRock Therapeutics, a cell therapy company.

Plan B or bust for GlycoMimetics

Two weeks after its stock started tanking, and one day after a run-of-the-mill quarterly earnings call, GlycoMimetics confirmed the worst. A Phase III trial of its lead sickle cell therapy, rivipansel, had failed, and it seems highly likely that the project is dead, according to Amy Brown writing on Vantage, the editorial arm of the Evaluate group. Shares in GlycoMimetics fell 60% to about $3.50 in morning trading last Monday, reducing its market capitalization to less than its cash holdings, she noted.