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Germany's Merck suffers setback with cancer drug
Wednesday - 12/19/2012, 6:15am EST
BERLIN (AP) - German pharmaceutical company Merck KgaA says a late stage trial of a new lung cancer drug has failed to meet expectations.
The company, based in Darmstadt, says the drug Stimuvax did not improve the overall survival of patients in the phase III study.
Merck shares fell 3.1 percent to (EURO)98.20 ($129.41) after the announcement early Wednesday.
The company is a separate entity from Merck & Co., which is based in the U.S.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)