A man died and his wife is in critical condition after the couple ingested chloroquine phosphate. This compound is commonly used at aquariums to clean fish tanks.
SNAKE OIL SALESMAN TRUMP PROMOTES FISH TANK CLEANER TO COMBAT COVID-19
ALLISON GATLIN 03/24/2020 @IBD_AG
A decades-old malaria drug touted by President Donald Trump as a potential coronavirus treatment has failed to impress in an early-stage study
The study, performed in China, followed 30 patients with mild symptoms. It investigated hydroxychloroquine, a cousin of chloroquine. Both can treat malaria, lupus and rheumatoid arthritis. In recent days, Trump has reiterated his positive views on their potential in coronavirus treatment.
But the drug didn't pan out in the study, Evercore ISI analyst Umer Raffat said in a note to clients. He described the results as "far from positive." Of three key measures, just one favored the use of the malaria drugs in coronavirus treatment.
"It really puzzles me why we're seeing inaccurate characterizations of clinical data," Raffat said. "In my honest opinion, having an honest discussion around emerging clinical data would actually help the progress."
Still, generic pharmaceutical companies Teva Pharmaceutical (TEVA) and Mylan (MYL), which are increasing production of hydroxychloroquine tablets for potential coronavirus treatment, notched gains Tuesday.
On the stock market today, Teva stock jumped 8.4%, to 8.12. Shares of Mylan reversed an earlier rise and declined 3.8%, to 15.14, at the closing bell. Pharma giants Novartis (NVS), Sanofi (SNY) and Bayer (BAYRY) also pledged to ramp production of the malaria drugs. Shares of all three also popped.
Researchers saw the potential for chloroquine in coronavirus treatment in February, SVB Leerink analyst Ami Fadia said in his report to clients. Hydroxychloroquine is a related drug with less severe side effects, allowing for higher doses and fewer interactions with other drugs.
This could be key in coronavirus treatment. To date, the new form of coronavirus, dubbed Covid-19, has infected more than 416,000 people worldwide. That includes nearly 19,000 deaths. More than 108,000 people have recovered, according to Worldometers.
Covid-19 Study Doesn't Bode Well
The hydroxychloroquine study examined virological clearance — the medicine's ability to lower how much of the virus remains in the body. After a week, the placebo cleared 93% of the virus vs. 87% clearance for those who received hydroxychloroquine, Raffat said.
Further, patients' temperatures normalized on the same day for both groups.
Only radiological progression measured by CT scan favored hydroxychloroquine in coronavirus treatment. But the data are hard to interpret due to the small number of patients, Raffat said. He questioned the dosage and patients' baseline viral loads. That information wasn't disclosed.
"Parsing through the emerging data for these important drives of success can help define what an effective treatment window and optimal candidate looks like," he said.
Pharma Companies Ramp Production
Regardless, Trump's endorsement has spurred pharma companies to ramp production of these old malaria drugs to use in coronavirus treatment. The market for hydroxychloroquine pills is worth around $450 million, SVB Leerink's Fadia said.
Fadia doesn't expect hydroxychloroquine in coronavirus treatment to be a huge moneymaker for generic pharmaceutical companies.
"But the efforts by these companies to step in to help combat the Covid-19 pandemic would be a good reminder for various constituents of the important role generic companies play in the health care system," she said.
Prescriptions are increasing and were 20% above normal for the week ending March 13, she said. The Lupus Foundation of America urged drug manufacturers on Monday to ensure they produce enough chloroquine and hydroxychloroquine to continue reaching lupus patients.
"Unfortunately, there are already verified reports across the country of pharmacies having major shortages of these vital drugs," the foundation said in a written statement. This is problematic for some lupus patients who don't have alternative medications.
Banner Health, a hospital system in Arizona, also cautioned against self-medicating for coronavirus treatment. A man died and his wife is in critical condition after the couple ingested chloroquine phosphate. This compound is commonly used at aquariums to clean fish tanks.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
The study, performed in China, followed 30 patients with mild symptoms. It investigated hydroxychloroquine, a cousin of chloroquine. Both can treat malaria, lupus and rheumatoid arthritis. In recent days, Trump has reiterated his positive views on their potential in coronavirus treatment.
But the drug didn't pan out in the study, Evercore ISI analyst Umer Raffat said in a note to clients. He described the results as "far from positive." Of three key measures, just one favored the use of the malaria drugs in coronavirus treatment.
"It really puzzles me why we're seeing inaccurate characterizations of clinical data," Raffat said. "In my honest opinion, having an honest discussion around emerging clinical data would actually help the progress."
Still, generic pharmaceutical companies Teva Pharmaceutical (TEVA) and Mylan (MYL), which are increasing production of hydroxychloroquine tablets for potential coronavirus treatment, notched gains Tuesday.
On the stock market today, Teva stock jumped 8.4%, to 8.12. Shares of Mylan reversed an earlier rise and declined 3.8%, to 15.14, at the closing bell. Pharma giants Novartis (NVS), Sanofi (SNY) and Bayer (BAYRY) also pledged to ramp production of the malaria drugs. Shares of all three also popped.
Researchers saw the potential for chloroquine in coronavirus treatment in February, SVB Leerink analyst Ami Fadia said in his report to clients. Hydroxychloroquine is a related drug with less severe side effects, allowing for higher doses and fewer interactions with other drugs.
This could be key in coronavirus treatment. To date, the new form of coronavirus, dubbed Covid-19, has infected more than 416,000 people worldwide. That includes nearly 19,000 deaths. More than 108,000 people have recovered, according to Worldometers.
Covid-19 Study Doesn't Bode Well
The hydroxychloroquine study examined virological clearance — the medicine's ability to lower how much of the virus remains in the body. After a week, the placebo cleared 93% of the virus vs. 87% clearance for those who received hydroxychloroquine, Raffat said.
Further, patients' temperatures normalized on the same day for both groups.
Only radiological progression measured by CT scan favored hydroxychloroquine in coronavirus treatment. But the data are hard to interpret due to the small number of patients, Raffat said. He questioned the dosage and patients' baseline viral loads. That information wasn't disclosed.
"Parsing through the emerging data for these important drives of success can help define what an effective treatment window and optimal candidate looks like," he said.
Pharma Companies Ramp Production
Regardless, Trump's endorsement has spurred pharma companies to ramp production of these old malaria drugs to use in coronavirus treatment. The market for hydroxychloroquine pills is worth around $450 million, SVB Leerink's Fadia said.
Fadia doesn't expect hydroxychloroquine in coronavirus treatment to be a huge moneymaker for generic pharmaceutical companies.
"But the efforts by these companies to step in to help combat the Covid-19 pandemic would be a good reminder for various constituents of the important role generic companies play in the health care system," she said.
Prescriptions are increasing and were 20% above normal for the week ending March 13, she said. The Lupus Foundation of America urged drug manufacturers on Monday to ensure they produce enough chloroquine and hydroxychloroquine to continue reaching lupus patients.
"Unfortunately, there are already verified reports across the country of pharmacies having major shortages of these vital drugs," the foundation said in a written statement. This is problematic for some lupus patients who don't have alternative medications.
Banner Health, a hospital system in Arizona, also cautioned against self-medicating for coronavirus treatment. A man died and his wife is in critical condition after the couple ingested chloroquine phosphate. This compound is commonly used at aquariums to clean fish tanks.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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