Biotech Values

[Titan V]

Allergan jumps after acne competitor's drug trial fails

Shares of drug giant Allergan (AGN) are trading higher after acne competitor Dermira (DERM ), a biopharmaceutical company specializing in the treatment dermatologic diseases, announced that its investigational treatment for acne olumacostat glasaretil did not meet the co-primary endpoints in its two Phase 3 pivotal trial in patients ages nine years and older with moderate-to-severe acne vulgaris. ALLERGAN'S ACNE PORTFOLIO: Tazorac and Aczone are current acne treatments in Allergan's portfolio. This past quarter, Allergan noted that sales of Aczone and Tazorac were both down due to generic pressure on the branded acne category. FDA ACCEPTS SEYSARA NDA: This past December, the FDA accepted a New Drug Application for Allergan's Seysara to treat moderate-to-severe acne in patients 9 years old and older. Allergan expects a decision on the application in the second half of 2018. Allergan has the U.S. rights to Seysara, while Paratek Pharmaceuticals (PRTK) retains rights outside the U.S. PRICE ACTION: Shares of Allergan are up 3.1% to $148.48 per share in afternoon trading, while Dermira is plunging almost 64% to just over $9 per share.

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