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4-Traders Homepage  >  Equities  >  Nyse  >  Allergan plc    AGN   IE00BY9D5467

ALLERGAN PLC (AGN)
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Allergan : Receives Refusal to File Letter from FDA for Vraylar® cariprazine Supplemental New Drug Application sNDA for the Treatment of Negative...

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10/05/2017 | 05:46pm CET

Allergan Receives Refusal to File Letter from FDA for Vraylar® cariprazine Supplemental New Drug Application sNDA for the Treatment of Negative Symptoms in Schizophrenia

By a News Reporter-Staff News Editor at Mental Health Weekly Digest -- Allergan plc (NYSE: AGN) announced that it received a Refusal to File (RTF) letter from the U.S. Food and Drug Administration (FDA) regarding its Supplemental New Drug Application (sNDA) for Vraylar (cariprazine) for treatment of negative symptoms associated with schizophrenia in adult patients. VRAYLAR is an oral, once daily atypical antipsychotic approved in the United States for the treatment of schizophrenia and the acute treatment of adult patients with manic or mixed episodes associated with bipolar I disorder (see also Allergan plc).

Upon its preliminary review, FDA determined that the sNDA for treatment of negative symptoms was not sufficiently complete to permit a substantive review.

"We are disappointed with the FDA decision on our submission. We will request a meeting with FDA to discuss and determine our next steps. Vraylar is an important treatment option for patients suffering from bipolar I disorder and schizophrenia. We remain committed to our mental health program and to cariprazine and its potential as a treatment option for patients suffering from negative symptoms associated with schizophrenia," said David Nicholson Ph.D., Chief Research & Development Officer, Allergan.

Schizophrenia is a chronic and disabling disorder that includes positive symptoms (i.e. hallucinations, delusions and thought disorders) and negative symptoms (i.e. loss of motivation and social withdrawal). These symptoms are strongly associated with long term morbidity, poor psychosocial functioning and considerable social and economic costs.

Cariprazine is approved in Europe for the treatment of schizophrenia. The approval includes data from the 460-patient negative symptoms study which was conducted by Gedeon Richter and published in the Lancet on February 6, 2017.

The Company will seek immediate guidance, and is in the process of planning a meeting with the FDA, to respond to the issues, and to seek clarification of what additional information will be required.

Keywords for this news article include: Psychiatry, FDA Actions, Allergan plc, Schizophrenia, Mental Health Diseases and Conditions, Government Agencies Offices and Entities.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2017, NewsRx LLC

(c) 2017 NewsRx LLC, source Health Newsletters

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Financials ($)
Sales 2018 15 196 M
EBIT 2018 7 274 M
Net income 2018 -1 246 M
Debt 2018 22 990 M
Yield 2018 1,83%
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 5,00x
EV / Sales 2019 4,66x
Capitalization 53 014 M
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 216 $
Spread / Average Target 35%
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Managers
NameTitle
Brenton L. Saunders Chairman, President & Chief Executive Officer
Matthew M. Walsh Chief Financial Officer & Executive VP
C. David Nicholson Chief Research & Development Officer
Paul M. Bisaro Director
James H. Bloem Independent Director
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