Novartis Corporation Halts Cholesterol Drug Development

ZURICH, Dec 16 (Reuters) - Drug maker Novartis will book a $266-million charge in the fourth quarter after stopping clinical trials of an experimental statin or cholesterol-lowering drug, the company said on Friday. Test results had shown the compound, a lipid-lowering agent called NKS104, was no longer competitive enough for Novartis to warrant spending more money on bringing it to the market.
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