Blueprint Medicines Said Genentech Announced Voluntary Withdrawal Of U.S. Indication Of Gavreto; Said Decision To Withdraw Indication Not Due To New Safety/Efficacy Data For Gavreto Or Product Safety/Quality Issue
Portfolio Pulse from Charles Gross
Genentech, a member of the Roche Group, has voluntarily withdrawn the U.S. indication of Gavreto, a drug developed in collaboration with Blueprint Medicines. The decision is not due to new safety/efficacy data for Gavreto or product safety/quality issue.
June 30, 2023 | 10:26 am
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NEGATIVE IMPACT
Blueprint Medicines may be impacted by Genentech's decision to withdraw the U.S. indication of Gavreto, a drug they collaborated on.
Blueprint Medicines collaborated with Genentech on the development of Gavreto. The withdrawal of the U.S. indication of the drug could potentially impact Blueprint Medicines' revenues and market perception, leading to a potential short-term negative impact on the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Roche may be impacted by Genentech's decision to withdraw the U.S. indication of Gavreto, a drug developed in collaboration with Blueprint Medicines.
Genentech is a member of the Roche Group. The withdrawal of the U.S. indication of Gavreto could potentially impact Roche's revenues and market perception, leading to a potential short-term negative impact on the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80