Merck KGaA (MKGAF.PK) Pulls Second Lung Cancer Drug Filing
9/18/2012 7:41:20 AM
German drugmaker Merck KGaA has withdrawn its second attempt to win European approval for use of its Erbitux drug against lung cancer, capping a string of setbacks in its drug development. Merck said on Tuesday it gave up the new attempt it made in March to win EU approval for the use of its second best-selling drug Erbitux against lung cancer, which had targeted a quarter of the patients it had initially tried to address. "The decision to withdraw the application was based on feedback from European regulatory authorities, indicating that further data would be required," Merck said in a statement. It shares fell 1.5 percent to 93.42 euros at 0823 GMT, underperforming a 0.6 percent higher European healthcare index.
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