GEN Exclusives

More »

GEN News Highlights

More »
Mar 28, 2007

Lundbeck’s Value Drops after Halt of Insomnia Drug Development with Merck & Co.

  • Merck & Co. and H. Lundbeck are suspending Phase III trials of their insomnia drug. The companies report that data from recently completed clinical studies suggests that the overall clinical profile for gaboxadol in insomnia does not support further development.

    Phase II trials of the drug were marked by side effects, such as tachycardia, headache, nausea, vomiting and fatigue.

    In morning trading, while Merck’s stock price decreased by less than 1%, Lundbeck’s value took a beating. The company’s shares slid over 16% to Kr. 26.50, or $4.75, from it closing price of Kr. 159.50, or $28.59.

    "The termination of our joint insomnia development program with Lundbeck is clearly disappointing," remarks Peter S. Kim, Ph.D., president of Merck Research Laboratories. Merck asserts that they will continue research in this area and are open to collaborating with Lundbeck.



Jobs

GEN Jobs powered by HireLifeScience.com connects you directly to employers in pharma, biotech, and the life sciences. View 40 to 50 fresh job postings daily or search for employment opportunities including those in R&D, clinical research, QA/QC, biomanufacturing, and regulatory affairs.
 Searching...
More »

GEN Poll

More » Poll Results »

New Drugs for Ebola

Do you think that biopharma companies should not have to go through the normal drug approval process in order to get potential life-saving therapies to Ebola patients more quickly?