Aspreva Pharmaceuticals drug fails Phase III trial

Shares of Canada's Aspreva Pharmaceuticals slid about 10 percent on the news late Thursday that CellCept failed a late-stage trial for the neuromuscular disease myasthenia gravis. The disease is associated with chronic fatigue and muscular weakness. But CellCept, originally approved in 1995, failed to achieve primary and secondary goals of minimal disease activity and low levels of corticosteroids.

- here's the AFX report on the trial results
- and here's the press release