SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Biotech / Medical : Biotech failure, 2002
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Miljenko Zuanic who started this subject3/5/2002 9:59:07 AM
From: nigel bates   of 130
 
Neurosearch and Glaxo end drug tests
By Nerma Jelacic FT.com, 14:22 GMT Mar 5, 2002
LONDON (FT Investor) - Shares in GlaxoSmithKline and Neurosearch were lower on Tuesday after the two companies said they would stop the development of an antidepressant drug due to side effects.
Neurosearch [901305], the Danish biotech company, said it would stop the tests of its NS2389 drug, which it developed in corporation with GlaxoSmithKline [GSK], the UK drugmaker. Glaxo held the worldwide rights for the compound.
The companies suspended phase II trials in August 2000 after tests showed cell changes in animals that had been subjected to treatments with high doses of the drug.
But in a statement released on Tuesday, Neurosearch said that further tests had failed to find a solution to the problem. "Additional studies did not fully disclose the mechanism of the cell changes. Therefore it was decided to discontinue the development of NS2389," Neurosearch said in a statement...
The Danish company had been developing the drug in alliance with Glaxo after it licensed the product to the UK drugmaker in February 2000.
Both companies will continue looking into other potential antidepressant drug candidates.
Neurosearch is also expected to report a loss of about DKk170m when it releases its full-year results on Thursday.
"We do not expect any important news yet the company may confirm a shift in strategic focus away from major CNS disease areas towards more niche oriented products. This could disappoint," said Hanne Leth Hillman of WestLB Panmure.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News