Another setback for Astra
Concerns about Anglo-Swedish drugs giant AstraZeneca's pipeline are likely to increase as the company abandoned work on its anti-depressant treatment TC-5214, which it developed in conjunction with US peer Targacept.
Concerns about Anglo-Swedish drugs giant AstraZeneca's pipeline are likely to increase as the company abandoned work on its anti-depressant treatment TC-5214, which it developed in conjunction with US peer Targacept.
The two companies said top-line results from the remaining Phase 3 studies did not meet the primary endpoint and regulatory filing will not be pursued.
As a result of this setback, AstraZeneca will take an intangible asset impairment charge of $50m, the remaining value in relation to TC-5214.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
AstraZeneca and Targacept signed a collaboration and licence agreement for the global development and commercialisation of TC-5214 back in December 2009. The initial goal for the collaboration was to develop TC-5214 as an adjunct treatment for major depressive disorder in patients with an inadequate response to a selective serotonin re-uptake inhibitor or serotonin/norepinephrine re-uptake inhibitor.
jh
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published