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Novartis Stops Development of Two Drugs

Novartis has discontinued development of albinterferon alfa-2b for the treatment of chronic hepatitis C, and Mycograb, an antifungal agent to treat invasive candidiasis in adults.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Novartis and Human Genome Sciences have discontinued further development of albinterferon alfa-2b for the treatment of adults with chronic hepatitis C following feedback from U.S and EU regulatory authorities, as well as data from a Phase II study. Novartis also stopped development of Mycograb (efungumab), an antifungal agent being studied as an add-on therapy to treat invasive candidiasis in adults.

As a result of these decisions, the company will record intangible asset impairment and other charges of approximately $590 million in 3Q10.

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