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TMCNet: Merck KGaA's Cladribine Receives Negative Review From European Committee

[September 24, 2010]

Merck KGaA's Cladribine Receives Negative Review From European Committee

Sep 24, 2010 (SmarTrend News Watch via COMTEX) -- 9/24/2010-Shares of Germany-based drug company Merck KGaA fell over 8% Friday following a decision from a European committee to refuse recommendation of the company's drug Cladribine tablets for the treatment of relapsing-remitting multiple sclerosis.

In the company's statement issued Friday, Merck said a committee of the European Medicines Agency has issued a negative opinion for Cladribine after coming to the conclusion that the benefits from the drug didn't outweigh the risks.

The committee's decisions direct European drug regulators as to whether to approve drugs or not.

Merck KGaA said it was evaluating its options to gaining approval in the European Union.

Write to Chip Brian at cbrian@tradethetrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup

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