Pfizer ends development of cholesterol drug
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In a surprising setback for the world's largest drugmaker, Pfizer Inc.  halted development on Saturday of its top experimental medicine, the cholesterol drug torcetrapib, due to safety concerns.
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Arena Pharmaceuticals, Inc.   said on Monday that Merck & Co. Inc.  has  pulled out of a partnership to develop an experimental drug for  atherosclerosis after results from a mid-stage clinical trail.
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Shares in Pfizer Inc, the world's biggest drugmaker, fell more than 10 percent in early trade in Europe on Monday, after news it had scrapped its most important experimental drug.
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Pfizer stock closed at $25.95, rising 4 percent. The stock began a rally earlier in the week on word that the US Food and Drug Administration had issued a warning of potential heart problems for naproxen.
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Stocks of branded and generic drug makers closed down a bit Tuesday as clinical study results mixed with merger updates. One of the big winners on the day was Nektar Therapeutics, on news that Exubera, the
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Merck & Co and Schering-Plough Corp said a closely watched study involving its Vytorin cholesterol treatment failed to reach its main goal.
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Stock falls on news treatment failed a mid-stage trial, company will cease developing drug. NEW YORK  - AtheroGenics Inc.
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A popular cholesterol-lowering drug failed to help slow the buildup of artery-clogging plaque in a long-awaited study, the companies that market the medication said yesterday, raising questions about whether its use should be limited.
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Pfizer is stopping TV and print ads for arthritis drug Celebrex now that there is evidence it could lead to heart problems. The FDA is considering warning labels for Celebrex, or taking the drug off the market.
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NEW YORK/LONDON  - Shares of Pfizer Inc.  fell 15.6 percent in opening trade on Monday, wiping out nearly $30 billion of market value, after the world's biggest drugmaker scrapped development of its most important experimental medicine.
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Researchers at US-based Alnylam Pharmaceuticals Inc blocked the action of a gene involved in cholesterol metabolism by using RNA interference (RNAi).
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Shares in Pfizer Inc  fell 12 percent in Europe on Monday after the world's biggest drugmaker scrapped development of its most important experimental medicine.
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AstraZeneca Plc's cholesterol-lowering drug Crestor has been linked to the death of a patient, Europe's third largest drugmaker said on Monday.
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Global drugs giant Pfizer sees profits fall after a drop in worldwide sales of cholesterol drug Lipitor.
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AstraZeneca Plc's cholesterol-lowering  drug Crestor has been linked to the death of a patient who  developed a suspected case of severe muscle wasting, Europe's  third largest drugmaker said on Monday.
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The pharmaceutical's settlement ends a government probe.
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Biopharma firm ends trials for a promising drug and offloads four commercial products.