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AstraZeneca drops new drug, citing concerns about safety: The drugmaker said side effects of Galida were worse than expected.
Byline: Thomas Ginsberg
May 5--AstraZeneca P.L.C. said yesterday that it has halted work on a new diabetes drug because of safety concerns, its second major dropped project in three months. The London-based maker of Nexium and Prilosec, with U.S. headquarters near Wilmington and about 4,500 employees in the region, said results from late-stage trials showed the drug Galida for Type 2 diabetes may have worse side effects than first thought.
In development since 1992 at a cost of hundreds of millions of dollars, Galida was billed as an improvement in a class known as PPAR agonists designed to control the absorption of fat and sugar in the bloodstream.…
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