Tuesday, December 21, 2010

AstraZeneca drops drug, takes $445 mln charge | Reuters

LONDON, Dec 21 (Reuters) - AstraZeneca (AZN.L) has discontinued development of motavizumab, a drug against the serious infant lung disease respiratory syncytial virus, and will take a charge of $445 million.

The news is a further setback for the drugmaker's pipeline but the company said on Tuesday that the charge, to be taken in the fourth quarter, would be excluded from "core" earnings and so had no impact on its guidance for 2010 earnings. (Reporting by Ben Hirschler)

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