Viatris Stock Slides After Phase 3 Blepharitis Drug Trial Misses Key Target

Viatris (VTRS, Financials) shares fell 3.6% on Friday after the firm said that its late-stage clinical study of the blepharitis medication MR-139 did not fulfill its main goal. The study examined pimecrolimus 0.3% ophthalmic ointment on 477 individuals for 12 weeks. Its goal was to get rid of eyelid debris, which is a major sign of blepharitis, but it didn't completely go away after six weeks of therapy.

Viatris is currently thinking about its choices. The company's Chief R&D Officer said that the team might change its plans for future MR-139 trials. Viatris is still hopeful, even though this setback. Its pipeline still contains potential therapies like Tyrvaya and RYZUMVI, and it recently published good findings from two other Phase 3 studies, LYNX-2 and VEGA-3, which were looking at keratorefractive problems and presbyopia, respectively.

The company's long-term plan is still to work on treatments for anterior segment disorders in ophthalmology, and management have said they will keep working on these unmet requirements.