Gilead's Pill Shown Effective to Prevent, Treat Flu (Update2)
Bloomberg News
September 24, 1998, 6:04 p.m. ET
Gilead's Pill Shown Effective to Prevent, Treat Flu (Update2)
(Updates closing share prices.)
San Francisco, Sept. 24 (Bloomberg) -- Gilead Sciences Inc.
said company-sponsored studies showed that a flu pill it's
developing with Roche Holding AG is effective in preventing and
treating the disease.
Only 1.2 percent to 1.3 percent of people treated with
Gilead's GS 4104 flu pill for 42 days contracted the flu,
compared to 4.8 percent of those given a placebo in studies of
1,559 people. Studies of another 1,348 patients with flu symptoms
found that the drug reduced the duration of the disease to 2.9
days, compared with 4.3 days in a placebo group, Gilead said.
Gilead Senior Vice President Norbert Bischofberger released
the data late yesterday at a SG Cowen investor conference in San
Francisco. The company, which has yet to turn a profit, will
present details of those trials tomorrow at a medical conference
in San Diego.
Gilead shares fell 2 7/16 today to close at 25 1/2, after
rising as much as 40 percent since Sept. 1 amid hopes for the flu
pill. In Zurich, Roche shares rose 125 francs to 23,950.
Some investors who expected the pill to cut short suffering
during a flu bout by as much as two days may have been
disappointed by the study results, which showed a one and a half
day reduction in symptoms, said Rachel Leheny, a biotechnology
analyst at Warburg Dillon Read in New York. However, they aren't
seeing the whole picture, she said.
''You have to remember, this was a very mild season for the
flu,'' Leheny said. ''If the flu had been more virulent, and
lasted five or six days, they would have seen that two day
reduction. It's really almost impossible to get below three days
of having the flu.''
Glaxo's Flu Drug
U.K. drugmaker Glaxo Wellcome Plc, the world's No. 2
drugmaker, will also release results of trials on Relenza, a
inhaled drug it's developed to prevent and treat the flu. Both
will compete for a share of the estimated $10 billion spent each
year in the U.S. to treat influenza.
''The question is: Will these be niche products for high-
risk patients who are going to have unusually severe
complications from the flu? Or is this going to be more broadly
applicable to the population at large?'' said Charles Engelberg,
an analyst with Americal Securities. ''I think the answer is
still unknown.''
Engelberg has been advising clients to buy shares in
Gilead prior to the presentation in San Diego.
New Class of Treatments
The Roche and Glaxo drugs are both part of a new class of
oral flu treatments called neuraminidase inhibitors.
Currently, injected vaccines made by Medeva Plc, SmithKline
Beecham Plc and other companies, are used to ward off flu. Bed
rest and liquid intake are standard treatment for people who get
the flu.
Relenza, developed by Melbourne, Australia-based Biota
Holdings Ltd., was licensed to Glaxo in 1989 and has been filed
for approval with Australian drug regulators.
Glaxo today applied for European and Canadian regulatory
approval for Relenza.
Hoffmann-La Roche, the U.S. division of Roche, said GS 4104
is the first flu pill ''designed to be active against all common
strains of the influenza virus.''
The most common forms are influenza A, B, and C, although
there are many subtypes.
FluMist Data
At the medical conference in San Diego, Mountain View,
California-based Aviron will also present data on its FluMist
nasal vaccine.
The company on Aug. 3 released preliminary results of a
phase 3, or final stage, clinical trial of the product, which
it's dubbing as a ''painless'' vaccine since it's not given
through an injection.
That analysis showed that the vaccine provided protection
against the A/Sydney strain of the flu, the predominant strain
circulating during last year's flu season.
A/Sydney wasn't among the three strains of the viral disease
that last year's vaccine targeted.
The results being presented in San Diego will confirm that
data issued in that press release, said Fred Kurland, Aviron's
chief financial officer.
''The press release was very clear in a qualitative way.
What you'll see (in San Diego) is quantitative data,'' Kurland
said. ''The two are very consistent.''
Aviron shares plunged 42 percent on Sept. 1 after the
company said the U.S. Food and Drug Administration would delay
its review of what would be the company's first product. The FDA
said it wants more information on how the vaccine will be
produced, which the company said could hold up its review for
months.
Aviron shares fell 13/16 to close at 15 1/16.
--Jim Finkle in the San Francisco newsroom (415) 912-2996 with |
