Reported 13 days ago
AbbVie Inc. experienced its largest stock drop in over four years after two mid-stage trials for its schizophrenia drug, emraclidine, failed to meet primary goals, jeopardizing its $8.7 billion acquisition of Cerevel Therapeutics. The drug showed no significant improvement over a placebo in treating symptoms, leading analysts to express concerns over AbbVie's future prospects and the acquisition's implications. Meanwhile, Bristol Myers Squibb's schizophrenia treatment approval marked a significant competitor advantage.
Source: YAHOO