Merck discontinues some cancer drug development with Sichuan Kelun Pharma
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Shanghai: Chinese drugmaker Sichuan Kelun Pharmaceutical Co has said that Merck & Co Inc was abandoning the joint development of two candidate cancer drugs which have yet to start clinical trials.
Shares of Shenzhen-listed Kelun closed down 7%, the lowest level since December 2022.
Representatives for Merck did not immediately respond to a Reuters request for comment.
The move comes days after Merck said it would pay Daiichi Sankyo $5.5 billion to jointly develop three of its candidate cancer drugs in a deal that could be worth up to $22 billion for the Japanese firm.
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