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Merck KGaA Drops Cancer Drug Development After Studies Fail

  • Patients didn't live longer when taking evofosfamide in tests
  • Partner Threshold's stock slides 70% in pre-market trading
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German drugmaker Merck KGaA said it won’t seek regulatory approval for its experimental cancer medicine evofosfamide after the treatment failed in the last stage of clinical tests.

The medicine didn’t help patients with pancreatic cancer or soft-tissue sarcoma live longer when combined with chemotherapy, Darmstadt, Germany-based Merck said in a statement Monday.