AbbVie's veliparib flop no big deal - analysts

|About: AbbVie Inc. (ABBV)|By:, SA News Editor

Investors appear unconcerned with AbbVie's (ABBV) late-stage failure with PARP inhibitor veliparib, as are analysts. Shares are up a fraction in early trading.

Bloomberg Intelligence's Cinney Zhang: Veliparib's worst-in-class potency has "minimal" implications for other PARPs from AstraZeneca (AZN +0.5%), TESARO (TSRO -3.5%) and Clovis Oncology (CLVS +2.1%).

SunTrust's Peter Lawson: No read-through for TSRO's Zejula (niraparib) in triple-negative breast cancer or lung cancer combo with Merck's Keytruda (pembrolizumab). Expects positive data on Zejula at ASCO in June.

Raymond James' Chris Raymond: Veliparib accounted for "minimal" of ABBV's sum-of-the-parts valuation ($2). Catalysts are Phase 3 data for ABT-494 in arthritis, venetoclax in CLL and Rova-T in lung cancer.

BMO's Alex Arfaei: Study miss was not a surprise, but it is "incrementally negative" for sentiment around ABBV's pipeline considering the increasing Humira competition.

Source: Bloomberg