Shares of Canada's Axcan were taking a hit today after the company announced it will halt development of Itopride for indigestion after analyzing disappointing data gathered in a recent Phase III clinical trial. Researchers were studying the therapy as a treatment for functional dyspepsia, which is characterized by upper abdominal pain. The study did not find a statistically significant effect from the drug. Axcan noted that the decision to shutter the program would reduce its R&D expenses next year. Its stock was down about 10 percent this morning in early trading.
- here's the AP report on Axcan