In a statement released Thursday, Johnson & Johnson said that it is withdrawing from the race to develop the world's first vaccine against the deadly RSV virus, following the lead of competitors Pfizer and GSK in making significant advances.
The company announced in a press release that it will stop working on the investigational RSV adult vaccine program and discontinue the pivotal phase three trial that tested the vaccine. According to the healthcare giant, which is based in New Brunswick, N.J., a portfolio review was the basis for its decision to prioritize the most transformational assets for investment in the future.
According to Dr. Bill Hait, J&J's executive vice president, in the release, Janssen ensures that by periodically refocusing its portfolio, the company is deeply invested in products that have the potential to transform patients' lives. A division within J&J that is focused on developing new therapies in areas with the greatest unmet medical needs, Janssen is committed to developing differentiated pipelines, improving the lives of millions of patients, and developing innovative new therapies.
The share price of J&J was relatively flat in the aftermath of the announcement.
He stated in a note published in a Guggenheim biopharmaceutical analyst's letter on Wednesday that the announcement was a frustration, but not a surprise. Guggenheim is maintaining a neutral rating on Johnson & Johnson for now, according to Doctor Divan.
Despite today's news, Divan wrote that it does increase pressure on JNJ to deliver positive updates from other key assets later this year.
In most cases, the respiratory syncytial virus causes mild, cold-like symptoms. However, older adults and infants can suffer more severe infections that can be fatal.
There are approximately 6,000 to 10,000 deaths related to the virus each year, mainly among elderly people and children under five. There was an unexpected spike in RSV cases this past winter in the U.S., which overwhelmed children's hospitals all over the country. More attention has been focused on developing the world's first RSV vaccine since then.
Approximately 23,000 adults ages 60 and older were enrolled in J&J's phase three trial in September 2021. Researchers found that 80% of severe RSV infections could be prevented by the company's RSV shot in a phase two trial.
Despite these advances, Pfizer and GSK still trailed behind in the race for U.S. approval of their shots.
Despite the risks of a rare neurological disorder, FDA advisors recommended shots from both drugmakers. Approximately 86% of Pfizer's shot is effective in preventing lower respiratory tract illness with three or more symptoms, whereas 83% of GSK's shot is.
In clinical trials, Moderna Pharmaceuticals' RSV shot performed well.
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