Roche (RHHBY) Halts Diabetes Drug Trial in Blow to Pipeline
7/10/2013 7:37:31 AM
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Roche will stop development of a drug for treating diabetes partly due to its undesired side effects, marking a high-profile setback for the Swiss company outside its cancer drug comfort zone. The diabetes treatment - aleglitazar - belongs to a class of drugs that rival pharmaceutical firms had already pulled back from, raising the question of why Roche had pressed on with what analysts had seen as a risky bet. Patients in a late-stage trial of the drug suffered side effects affecting organs such as their kidneys and hearts, a spokesman for the Basel-based drugmaker said, adding Roche could not yet quantify the financial impact of the move. Roche said in a statement on Wednesday it was working to support patients on the drug to move to other therapies.
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