A pair of decisions from the Food and Drug Administration and a stopped clinical trial have left drug giant Wyeth without three of the biggest hopes for future growth.
The bad results, the latest of which have sent Wyeth shares down 7.5%, should raise questions about whether Wyeth (nyse: WYE - news - people ) is doing a good job designing studies that answer the FDA's questions about its medicines' safety and efficacy. It also drives home the trouble that large pharmaceutical companies are having inventing new medicines, even as their old moneymakers approach a time when they will no longer have patent protection.
More bad news: Mid-stage trials of a new drug for hepatitis C being developed by Wyeth and biotech Viropharma (nasdaq: VPHM - news - people ) were stopped. An independent safety monitoring board decided that elevated liver enzymes in some patients raised questions about whether the drug was too toxic. Hepatitis C, a virus, is a disease that damages the liver. Viropharma shares plummeted 20%.read more
1 comment:
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