Lundbeck Alters Pipeline to Develop Schizophrenia Drug

Lundbeck (CPH:LND) has altered its drug pipeline in order to funnel resources towards one if its most promising candidates, the schizophrenia drug Lu AF35700. In this process, it ceased development on some undisclosed early-stage assets.
According to Fierce Biotech:

Copenhagen, Denmark-based Lundbeck unveiled the tweaks to its R&D priorities alongside sweeping changes to its operations, which will see it shed 1,000 jobs in an attempt to become profitable. The commercial operation is expected to bear the brunt of the cuts but R&D will be affected, too, with recently-appointed CEO Kåre Schultz committing to dropping certain early-stage assets. Trimming the pipeline will allow Lundbeck top focus its cash on programs in which it thinks it has the clearest understanding of the underlying science, such as the schizophrenia drug Lu Af35700.

Lundbeck research and development chief Anders Gersel Pedersen said on a conference call:

35700 is an antipsychotic with a profile that is somewhat different than most drugs available. What we see is that many of the drugs that are available on the market today are predominantly driving effects through D2. . . . We have to put our bets where we think we have the best ability to translate science into products.

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