Celgene just lost a crucial drug for its revenue stream after a clinical trial blowup

Celgene just lost one of the most important drugs in its research pipeline to a late-stage clinical trial blowup.

The drug is mongersen, a key component in Celgene’s burgeoning immunology and inflammation franchise. On Thursday, a phase 3 study of mongersen in Crohn’s disease was halted prematurely following a finding of clinical futility by independent monitors, the company said.

Celgene paid $710 million in 2014 to acquire the company that originally developed mongersen, also known as GED-0301.

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