Novartis has discontinued development of Aurograb, an add-on therapy to antibiotics that was being assessed for use in treating deep-seated staphylococcal infections, following a review of recent Phase II results showing a lack of efficacy.
Novartis gained rights to the compound in 2006 through the acquisition of NeuTec Pharma. An intangible asset impairment charge of approximately $235 million, which is the full amount allocated to this project, will be taken in the 3Q08 in the Pharmaceuticals Division.
Phase III trials and submission preparations continue for Mycograb, another development compound acquired with NeuTec that is being studied as an add-on therapy to antifungal agents in treating invasive candidiasis and other severe fungal infections.
Novartis Discontinues Aurograb Development
Published August 29, 2008
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