Shares in drugs giant AstraZeneca fell about 2% after it revealed that a heart disease treatment was proven to be ineffective in trials. Its US partner in the study, Atherogenics, will continue to work on the product, but its shares fell by about 60% in pre-market trading.
AstraZeneca, Europe's second biggest drugs firm, has 45 days to decide whether to continue the partnership.
The drug was being tested on patients with coronary artery disease.
But AstraZeneca said the trial "did not meet its primary endpoint of a statistically significant relative risk reduction".
Increasing competition
AstraZeneca has stated its goal is to focus increasingly on boosting the development of future drugs.
It has been facing rising competition from companies producing cheaper generic versions of some of its top drugs once their patents expire.
The company was hit last October after a key stroke treatment it had been developing failed a clinical trial.
AstraZeneca shares closed 0.7% or 20 pence lower at �28.61 on the London market.
One-Minute World News 
News services
E-mail this to a friend 
Printable version 
