Thursday July 9, 03:30 PM
STOCKS NEWS US-AstraZeneca ends deal on MAP Pharma's drug
Stocks on the move Real (Frankfurt: BJU.F - news) -time Equity news
U.S. stock market report
1010 ET 09July2009-AstraZeneca (LSE: AZN.L - news) ends deal on MAP Pharma's drug
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Shares of MAP Pharmaceuticals fell on Thursday, after the company
said it plans to suspend development of its experimental pediatric asthma drug,
after its licensing partner AstraZeneca terminated a
collaboration on the drug.
The drug, Unit Dose Budesonide, had earlier this year failed to meet the
main goals of a late-stage trial in children aged one year to eight years with
mild asthma.
Map said it received the termination notice, which reverts back all rights
to MAP, on Wednesday and was effective immediately.
For details, see
Shares of MAP sank 9.4 percent to $10.02 while AstraZeneca shares gained
0.6 percent to $43.59 on the New York Stock Exchange.
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