Rocky road

Buyside views on what Celgene can do to bolster sentiment after ozanimod setback

While a trio of buysiders who spoke with BioCentury believe sentiment toward Celgene Corp. will remain poor in the near term in the wake of a regulatory delay for ozanimod, they believe commercial success from the lead CAR T therapy gained from Juno Therapeutics Inc. and more M&A in the big biotech’s areas of core competency could help pave the road to long-term recovery.

The FDA refusal to file letter for ozanimod Celgene announced on Feb. 27 is the third major setback for the company in the past five months. The multiple sclerosis candidate was expected to be a key near-term revenue driver as the company faces pressure to reduce its reliance on cancer therapy Revlimid lenalidomide, which is slated to lose exclusivity in the mid-2020s.

The news follows announcements in October that the company discontinued development

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