Avid Bioservices Inc (CDMO)

[newbieee]

Here's an example of a drug that failed in its first phase 3 trial and went on to get approved to treat several cancer indications. Oh yeah, it also has about 60 billion in sales.

Published: September 10, 2002
The biotechnology company Genentech said late yesterday that an experimental cancer drug that tried to block the flow of blood to tumors had failed its first late-stage clinical trial -- a blow to the company and to what had been considered a promising approach to treating cancer.

The company said that a Phase III trial of the drug, Avastin, did not meet its goal of extending by 50 percent the time before tumors worsened in patients with advanced breast cancer. The drug did shrink tumors, the company said, but that did not delay the worsening of the cancer or improve the odds of surviving for one year.

The failure deals a significant blow to Genentech because Avastin was considered one of its big potential new drugs. A successful trial might have allowed the company to apply for regulatory approval...

http://www.nytimes.com/2002/09/10/business/genentech-says-cancer-drug-avastin-failed-clinical-trial.html