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Biotech / Medical : Indications -- diabetes

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To: tuck who wrote (65)	5/30/2003 12:50:21 PM
From: keokalani'nui	Read Replies (1) of 278

[Merck KG quits.] Hopefully it will become an active licensor. FRANKFURT, May 30 (Reuters) - Germany's Merck KGaA (XETRA:MRCG.DE - News) said on Friday it was ending efforts to produce two early-stage diabetes treatments, hurting its shares and underscoring its dependence on the success of experimental cancer drug Erbitux. Merck said in a statement the move would bring about a shake-up of its research and development programme, and along with unrelated litigation costs, would entail exceptional charges of 100-200 million euros ($117.8-235.5 million). Merck, unrelated to the large U.S. drugmaker of the same name, said it was ending the development of EML 16336, which stimulates glucose uptake and IDD 676, which inhibits the enzyme aldose reductase. Its Glucophage diabetes treatments have been its flagship products, but generic competitors have sharply bit into sales over the past year and a half.

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