Promising no more: drug candidates fail – ViroPharma lost more than half its value in Nasdaq trading after experimental drug maribavir failed in tests on patients receiving bone-marrow transplants. And, La Jolla Pharmaceutical Co said it would stop developing its lead drug candidate (Riquent), an experimental treatment for lupus, after an interim efficacy analysis showed negative results, wiping out about 90 percent of its market value. But, at least Botox may have found yet another use!
Novartis rolling the dice on an experimental anti-clotting drug. Swiss drugmaker Novartis AG said on Thursday it would pay $75 million to secure exclusive worldwide rights to an experimental blood clot preventer from privately held U.S. biotechnology company Portola Pharmaceuticals Inc. The drug, elinogrel, is in mid-stage testing for both oral and intravenous formulations for the prevention of blood clots that can cause heart attacks and strokes.
Another company cuts back: Oscient.
PLUS: Are the days of armies of door-knocking sales reps over? New data on the trend toward “No Welcome” mats at doctors’ offices.
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