GlaxoSmithKline (GSK) Heart Drug Misses Goal In Major Study
11/12/2013 6:55:20 AM
An experimental GlaxoSmithKline drug, designed to fight heart disease in a new way, failed to meet its main goal in a major late-stage clinical study, dealing a blow to one of the company's biggest new treatment hopes. Darapladib's inability to reduce the overall risk of heart attacks and strokes in the first of two big Phase III studies is disappointing, but not a huge surprise. Many analysts already had low expectations for the project. Shares in Britain's biggest drugmaker had fallen 1.2 percent on the news by 1050 GMT on Tuesday, and Deutsche Bank analyst Mark Clark said failure of the drug removed some "blue sky fantasy" about potential multibillion-dollar sales.
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