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Merck discontinues some cancer drug development with Sichuan Kelun Pharma
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...
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.
Merck is aiming for at least $6 billion in revenue from its oncology business in the fiscal year ending March 31, 2026, which would represent about a five-fold increase over a three-year period.
The co-developed drug candidates belonged to a class known as antibody drug conjugates (ADC), which unlike conventional chemotherapy are designed to target only cancer cells, potentially reducing damage to normal cells.
Cooperation with Merck on seven other ADC candidates - three in clinical trials - was unaffected, Kelun said.
Ruchika Sharma joined Medical Dialogue as an Desk Editor for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751