Bayer stopped the blood thinner drug trial for lack of effect, a major setback. Germany’s Bayer (BAYGn.DE) canceled a significant late-stage experiment testing a novel anti-clotting medication due to a lack of efficacy, dealing another blow to the struggling drugmaker and raising doubts about its most promising medium-term development project.
Late on Sunday, the company said that asundexian, an experimental blood thinner that they had hoped would bring in more than 5 billion euros ($5.5 billion) a year in sales, was found to be less effective than Bristol-Myers Squibb’s (BMY.N) and Pfizer’s (PFE.N) Eliquis at preventing strokes in high-risk patients.
The trial’s suspension, which came about on the advice of impartial trial supervisors, is yet another blow to a firm already struggling with a struggling pesticide business and litigation from the United States regarding the potential carcinogenic effects of its widely used Roundup weedkiller.
To boost the company’s faltering stock price, New Bayer CEO Bill Anderson is considering his options for dismantling the producer of consumer health goods, seeds, agricultural pesticides, and prescription medications. He also wants to eliminate managerial jobs to streamline management decision-making.
Bayer stated that more data analysis would be done to comprehend the results of the OCEANIC-AF trial, which was halted in August 2022.
The report also said that the independent trial supervisors suggested that OCEANIC-STROKE, a different phase III trial, be kept going so that asundexians could be tested to see if they could keep people who had already had a stroke from having another one.