Johnson & Johnson (JNJ), Rigel Pharmaceuticals, Inc. (RIGL): This Week in Biotech

However, the week ended on a sour for investors in  AstraZeneca plc (ADR) (NYSE:AZN) and Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) , whose rheumatoid arthritis drug, Fostamatinib, delivered mixed results in the first of three phase 3 trials. Fostamatinib, which Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) licensed out to AstraZeneca plc (ADR) (NYSE:AZN) in 2010, demonstrated a statistically significant improvement in the ACR20 response rate in terms of RA symptoms, but it failed to reach the second primary endpoint of stalling the progression of joint damage. X-rays taken of patients’ joints delivered the sobering news. Given that Fostamatinib was shown to be inferior to the leading RA medication Humira, made by AbbVie Inc (NYSE:ABBV), in a head-to-head trial in December — and noting that Pfizer Inc. (NYSE:PFE)‘s Xeljanz had a higher ACR20 response rate score in its phase 3 trials than Fostamatinib — the approvability of AstraZeneca plc (ADR) (NYSE:AZN) and Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL)’s drug is quickly fading.

The article This Week in Biotech originally appeared on Fool.com is written by Sean Williams.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.The Motley Fool owns shares of Johnson & Johnson and recommends Johnson & Johnson and Cubist Pharmaceuticals.

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