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Siliq Could Strengthen Valeant’s Dermatology Franchise

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About Siliq

Valeant Pharmaceuticals’ (VRX) Siliq (brodalumab) is an inhibitor of human interleukin-17 receptors (or IL-17RA) used for the treatment of adult individuals with moderate-to-severe plaque psoriasis who are subjects of systemic therapy or phototherapy and didn’t respond or lost the response to other systemic therapies.

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AMAGINE-2 trial

In October 2017, Valeant Pharmaceuticals presented the results of its pivotal Phase 3 long-term extension AMAGINE-2 trial. In the trial, Siliq demonstrated sustained high levels of skin clearance for more than two years in individuals with moderate-to-severe psoriasis. Patients on any dose of Siliq at the induction phase and Siliq over the maintenance and long-term extension (or LTE) phases showed similar response rates. Among the patients on Siliq in the induction phase and LTE phases at week 120, 59.0% of them demonstrated a PASI (Psoriasis Area and Severity Index) 100, or complete clearance, and 76.4% of them demonstrated a PASI 90. At 52 weeks, 63.4% of the same group had a PASI 100, and 58.9% had PASI 90 response rates. At 120 weeks, Siliq continued to show a consistent safety profile as it did at 52 weeks.

AMAGINE-1 trial

In the Phase 3 AMAGINE-1 trial, Valeant Pharmaceuticals evaluated the safety and efficacy of Siliq in patients with previous exposure to ustekinumab. Among the patients receiving continuous Siliq therapy, 65.2% who were ustekinumab-naïve achieved PASI 100, while 76.5% of them who had a prior ustekinumab experience achieved PASI 100. Among the patients receiving continuous Siliq therapy, 75.8% who were ustekinumab-naïve achieved PASI 90, and 88.2% with previous ustekinumab experience achieved PASI 100.

Growth in sales for Siliq could boost the stock of the Vanguard Total International Stock ETF (VXUS). Valeant Pharmaceuticals makes up ~0.02% of VXUS’s total portfolio holdings.

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