Deals
Allergan Shares Fall After CEO Says Two Studies Delayed
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Allergan Inc., the maker of the Botox wrinkle treatment, fell the most in 13 years after saying it will delay final studies for drugs to treat age-related macular degeneration and baldness.
A mid-term trial of the company’s DARPin treatment for macular degeneration, the leading cause of blindness in the elderly, failed to find the best way to separate it in final testing from Roche Holding AG’s Lucentis, Chief Scientific Officer Scott Whitcup said today on a conference call. A study of bimatoprost showed insufficient hair growth and Allergan plans to test a formulation that’s 10 times stronger, he said.