Teva returns CV rights for Mesoblast stem cell therapy
Mesoblast Ltd. (ASX:MSB; NASDAQ:MESO) fell A$0.81 (42%) to A$1.11 in Australia on Tuesday and $2.87 (41%) to $4.20 on NASDAQ after Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) returned rights to Mesoblast's mesenchymal precursor cell (MPC) technology for cardiovascular indications, including lead program MPC-150-IM. According to Mesoblast, Teva's decision to return CV rights was "based on strategic reasons aligned to their core therapeutic areas of focus."
In April, an independent data monitoring committee recommended continuing a Phase III study of MPC-150-IM to treat congestive heart failure (CHF). Earlier this year, the company amended the study to change the primary endpoint to recurrent heart failure-related major adverse cardiovascular events (HF-MACE) from time to first HF-MACE. ...