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.
News about fluorinated drugs
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