The Day In Review: Eli Lilly and Company (LLY) Stops Brain Cancer Trial
12/22/2006 5:11:25 PM
December 21, 2006 -- Lilly stopped a Phase III trial of enzastaurin for recurrent glioblastoma because the drug did not provide a benefit; GlaxoSmithKline offered $55 million to buy Praecis Pharma; Genzyme filed for approval of Renvela; Merck and Schering-Plough said Vytorin outperformed Lipitor; in pre-clinical tests, Panzem from EntreMed reduced the size of brain tumors; Merck and Vertex began a Phase II trial of their leukemia drug; Sunesis Pharma began a Phase II trial of SNS-595 for ovarian cancer; Merck received approval for Invanz, a once-daily injectable antibiotic; Bristol-Myers Squibb will make a $499 million payment to settle charges; Ista filed a New Drug Application for a conjunctivitis therapy; and Sepracor traded 9% higher because Medicare will not cut reimbursement for Xopenex for nine months. The Centient Biotech 200™ slipped two points lower to 3944, a decline of .06%. More details...