Novartis Stops Drug Trials; Sees $590 Million Charge
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Novartis AG is stopping development of two experimental medicines, a decision that will result in charges of about $590 million in the third quarter.
Novartis is halting work on albinterferon alfa-2b for use in chronic hepatitis C and Mycograb, an antifungal agent being tested for use in invasive candidiasis, the company said today in a statement.