Navigation

Novartis halts trial of superbug drug

The Basel-based pharma company, Novartis, is to take a $235 million (SFr257.3 million) charge after stopping development of a treatment for bacterial infections.

This content was published on August 29, 2008 - 11:58

Novartis reported on Friday that its Aurograb medication had shown a lack of efficacy in mid-stage trials.

The charge, which reflects the full amount allocated to the project, will be taken in the company's third-quarter results.

Novartis acquired Aurograb in 2006 when it bought NeuTec Pharma, a specialist in fighting hospital superbugs, for nearly $570 million.

Another compound acquired with NeuTec, Mycograb, continues in late-stage trials for the treatment of a life-threatening fungal infection.

Analysts at JP Morgan said in a note that the move would have "no significant impact on Novartis, although [it would be] a small negative for sentiment".

This article was automatically imported from our old content management system. If you see any display errors, please let us know: community-feedback@swissinfo.ch

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

Share this story

Change your password

Do you really want to delete your profile?