Biotech Values

[DewDiligence]

Imbruvica shows impressive activity in CLL/SLL after 5 years:

http://finance.yahoo.com/news/data-ash-2016-show-strong-000500706.html

In these studies (PCYC-1102 and PCYC-1103), with five years of follow-up, the ORR in patients treated with IMBRUVICA was 89%, with 14% of patients achieving complete responses (CR) [87% ORR with 29% CR in TN patients (n=31) and 89% ORR with 10% CR in r/r patients (n=101)]. Median time on study was 62 months (1-67) for TN patients and 49 months (1-67) for r/r patients.

Overall survival (OS) at five years was 92% for TN patients and 57% for r/r patients, with a PFS rate of 92% and 43%, respectively. Median OS and median duration of response (DOR) was not reached. Median PFS was not reached in TN patients and was 52 months for r/r patients.

These are the kinds of results ABBV was hoping for when it acquired PCYC (and approximately half the worldwide Imbruvica economics) for $21B in 2015 (#msg-111425234).