Merck to stop developing sleep drug |
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Published
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Wed, 28 Mar 2007 15:37
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NEW YORK (AP) - Drug maker Merck & Co. and Danish drug maker H. Lundbeck AS said Wednesday they are ending work on a new type of sleeping pill because data from recent clinical trials did not support further development.The companies said they would no longer develop gaboxadol, which recently completed a late-stage clinical trial, and would not file for regulatory approval for the drug. As a result, ongoing clinical studies on gaboxadol will be halted.Merck reported in October that it would delay plans to file a drug application for gaboxadol with the Food and Drug Administration until mid-2007 because of slower-than-expected enrollment of patients in clinical trials.Shares of Merck slipped 20 cents to $43.45 in morning trading on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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