BioPharma Dive November 11, 2024
Jacob Bell

Emraclidine, a promising psychiatric medicine AbbVie acquired by buying Cerevel Therapeutics last year, didn’t outperform placebo in two Phase 2 trial tests.

AbbVie lost about $40 billion in market value Monday morning after an experimental drug the company had bet heavily on failed two important clinical trials.

The drug, called emraclidine, was developed by Pfizer spinout Cerevel Therapeutics, which AbbVie recently acquired for almost $9 billion. It’s one of a new class of brain-balancing medications researchers see as valuable tools for treating a variety of psychiatric conditions. With emraclidine, Cerevel chose schizophrenia as the first target, and over the past couple of years has been running a pair of studies to assess whether the drug can quickly alleviate symptoms of...

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Topics: Biotechnology, Pharma, Pharma / Biotech
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