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Pharmaceuticals

ArQule to exit chemistry service, focus on drug discovery

October 3, 2005 | A version of this story appeared in Volume 83, Issue 40

ArQule, one of the largest U.S. providers of pharmaceutical chemistry services, is exiting the services business to focus on cancer drug discovery and development. The firm expects that its chemistry services business, which supplies drug companies with libraries of druglike small molecules, will have revenues of about $46 million this year. Customers in recent years have included Roche, Novartis, and its largest customer, Pfizer. ArQule says it will “work closely with its remaining chemistry customers to ensure their needs are supported.” It expects to continue drawing on its chemistry capabilities in the discovery of compounds that target cancer. ArQule says it is nearing completion of the first stage of clinical trials with ARQ 501, the lead compound from its E2F program, which is the subject of a partnership with Roche.

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