Pharma Stock Roundup: ABBV's Elagolix Meets Study Goal, MRK's Keytruda In Focus

This week was a relatively light one as far as developments in the pharma sector were concerned. The key highlights were priority review for Merck’s (NYSE:MRK) Keytruda for advanced cervical cancer, delay in final data from AstraZeneca’s (NYSE:AZN) key lung cancer study, success of AbbVie’s (NYSE:ABBV) another late stage study and breakthrough therapy designation for J&J’s (NYSE:JNJ) cancer candidate.

Recap of the Week’s Most Important Stories

AstraZeneca Delays Final Data from MYSTIC Study: The final overall survival data from AstraZeneca’s pivotal phase III MYSTIC study on Imfinzi in the first-line lung cancer indication has been delayed to the second half of this year. The data was previously expected to be presented in the first half of 2018. In July last year, the study failed to meet the primary endpoint of progression-free-survival. (Read More: AstraZeneca's Final Data From Key Lung Cancer Study Delayed)

Merck’s Keytruda Gets Priority Review for Another Indication: Merck’s supplemental filing looking to expand the label of its anti-PD-1 therapy, Keytruda, to treat advanced cervical cancer, has been accepted for priority review by the FDA. A decision is expected on Jun 28. This is the 14th regulatory submission for Keytruda accepted by the FDA. (Read More: Merck’s Keytruda Gets Priority Review for Cervical Cancer)

AbbVie Second Late-Stage Study on Elagolix Meets Endpoints: AbbVie and Neurocrine Biosciences’ second of the two pivotal phase III studies on pipeline candidate, elagolix met the primary endpoint. The ELARIS UF-II study was evaluating elagolix for reducing heavy menstrual bleeding in premenopausal women with uterine fibroids. Data from the study demonstrated that elagolix, in combination with low-dose add-back therapy, reduced heavy menstrual bleeding in 76.2% of women with uterine fibroids compared with 10.1% in placebo at month six. (Read More: AbbVie's Uterine Fibroids Candidate Succeeds in Phase III).

Top-line data from the first study of elagolix in uterine fibroids was announced in February. This study also met the primary endpoint. (Read More: Abbvie's Uterine Fibrosis Candidate Meets Goal in Study)

J&J’s Cancer Candidate Gets Breakthrough Therapy Designation: J&J’s late-stage pipeline candidate, erdafitinib gained breakthrough therapy designation from the FDA for the treatment of urothelial cancer, a type of bladder cancer. (Read More: J&J's Erdafitinib Gets Breakthrough Therapy Status)

The NYSE ARCA Pharmaceutical Index was up a marginal 0.1% in the last five trading sessions.

Here is how the seven major stocks performed:

While Merck emerged as the biggest gainer (1.8%) in the last five trading sessions, Glaxo’s (NYSE:GSK) shares declined the most (1.6%).

In the last six months, while AstraZeneca has gained 7.2%, Merck declined 14.8%.

(See the last pharma stock roundup here: MRK Signs New Cancer Deal, DERM’s Acne Candidate Fails)

What's Next in the Pharma World?

Watch out for regulatory and pipeline news from pharma stocks.

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