Radotinib, a leukemia drug, fails to demonstrate excellent efficacy in phase 3 clinical trials
Stock price declined by 30% due to successive clinical failures
[바이오타임즈] Ilyang Pharmaceutical failed in phase 3 clinical trials for approval of Supect (ingredient Radotinib) to treat COVID-19 in Russia.
Ilyang Pharmaceutical announced on the 4th that it did not demonstrate better efficacy than standard recommended treatment in this phase 3 clinical trial conducted by R-PHARM of Russia.
Supect is a new domestic drug developed by Ilyang Pharmaceutical, the 18th leukemia treatment. Ilyang Pharmaceutical confirmed the antiviral effect of Radotinib and challenged the development of a COVID-19 treatment in Russia in May of last year by re-creating the drug.
This is the first case of a domestic company that has been approved for phase 3 clinical trials abroad. Ilyang Pharm exchanged an agreement with Alfam for the clinical treatment of COVID-19 treatment. We have decided to provide Supect.
Following the clinical failure, the company said that Alfam would not proceed with the application for marketing approval of Radotinib for the treatment of Corona 19 patients in Russia. Dan Alfam plans to register Radotinib as a treatment for leukemia within this year.
Earlier, Ilyang Pharmaceutical announced that it was not able to secure significance in phase 3 clinical trials to secure a new indication for NERD (Non-erosive reflux disease) for anti-ulcer drug’Noltek’.
Due to successive clinical failures, Ilyang Pharmaceutical’s stock price closed at 35,000 won, down 30% from the previous day.
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