GSK shares fell 2.3% after the drugmaker discontinued camlipixant, a potential blockbuster cough therapy acquired in the $2B Bellus Health deal, following a Phase 3 miss.
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GSK shares fell 2.3% in London on Friday after the drugmaker said it will not advance camlipixant, an experimental cough therapy acquired in the $2 billion Bellus Health deal two years ago. The decision follows a Phase 3 trial that failed to meet the efficacy bar needed for further investment, the company said.
Camlipixant was the centerpiece of the Bellus acquisition, which closed in 2023 and gave GSK a candidate for refractory chronic cough. That condition has no approved therapies in most markets. The drug had shown promise in earlier studies. The Phase 3 data did not support continued development.
The setback creates a gap in GSK's respiratory pipeline. The company had projected peak sales above $1 billion for camlipixant. GSK did not disclose specific trial results in its statement.
The stock is roughly flat year to date. The failure raises questions about the return on the Bellus deal and GSK's ability to replace revenue from older drugs facing patent expirations. GSK has not said whether it will pursue other candidates for chronic cough.
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