Takeda's Zasocitinib Achieves 2.5x Skin Clearance of Bristol Myers' Sotyktu in Psoriasis Trial
BMY sits 33% above its 52-week low of $42.52.
Summary
Takeda's experimental psoriasis drug, zasocitinib, significantly outperformed Bristol Myers Squibb's approved drug Sotyktu in a late-stage head-to-head trial. Zasocitinib achieved complete skin clearance in 35% of patients after 16 weeks, more than 2.5 times the rate seen with Sotyktu. This introduces a major competitive threat to BMY's Sotyktu, potentially impacting its future revenue. Takeda projects zasocitinib could generate $3 billion to $6 billion in peak annual sales if approved, and plans to seek FDA approval this fiscal year.
At the time of this announcement, BMY was trading at $56.72 on NYSE in the Life Sciences sector, with a market capitalization of approximately $113.5B. The 52-week trading range was $42.52 to $62.89. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Reuters.