Ablynx Drops as Pfizer Hands Back Rights to Most Advanced Drug

Ablynx NV (ABLX), the Belgian developer of drugs based on antibodies found in llamas, fell to the lowest value since it first sold shares in 2007 in Brussels trading after saying Pfizer Inc. (PFE) handed back the rights to its most advanced experimental medicine.

Ablynx fell as much as 7.3 percent and traded down 21 cents at 3.37 euros at 9:18 a.m. local time. Ablynx, based in Ghent, Belgium, first sold shares for 7 euros apiece in November 2007.

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