Schering-Plough pulls its garenoxacin app
Schering-Plough has withdrawn its application to the FDA for approval of the antibiotic garenoxacin, a drug that was developed by Japan's Toyama. Toyama announced the move, which will take a bite out of its projected earnings. Toyama had expected the agency to approve the antibiotic, clearing the way for the Japanese drug developer to start earning revenue on U.S. sales. Schering-Plough dropped the application because it did not have a sub-licensee for the U.S. market, officials said. But Toyama also added that Schering-Plough plans to file again. In order to make up for the lost revenue, Toyama now plans to accelerate licensing talks for the experimental Alzheimer's drug T-817MA, T-5224 for rheumatoid arthritis and the antiviral agent T-705.
- see the report on garenoxacin from Asia News
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