Torcetrapib failed, causing deaths and heart problems

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Torcetrapib failed, causing deaths and heart problems

Postby pfpcnews » Mon Dec 04, 2006 9:13 am

NOTE: Torcetrapib is a drug containg two trifluoromethyl compounds

Pfizer falls 10 pct in Europe after drug failure

Reuters - December 4, 2006

LONDON (Reuters) - Shares in Pfizer Inc, the world's biggest drugmaker, fell 10 percent in early trade in Europe on Monday, following news it had scrapped its most important experimental drug.

The stock was off 10.3 percent in Frankfurt at 3:10 a.m. EST at 18.62 euros, equivalent to $24.80 and compared to a closing level in New York on Friday of $27.86.

On Saturday Pfizer halted development of torcetrapib, which was designed to raise levels of "good" HDL cholesterol, after an independent safety monitoring board cited increased deaths and heart problems among patients given the product in a late-stage trial.

SOURCE:
http://tinyurl.com/wkcea

SEE ALSO:
http://bruha.com/pfpc/html/index_drugs.html
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