Neuromed says to end development of pain drug

Aug 8 (Reuters) - Privately held drug company Neuromed Pharmaceuticals said it was ending development of its drug candidate to treat chronic pain, for which it was partnered with Merck & Co. Inc. (MRK.N).

In a news release, Neuromed said the drug "does not demonstrate the ideal pharmaceutical characteristics considered necessary to advance the compound further in development."

The drug, code-named NMED-160 by Neuromed and MK-6721 by Merck, was a mid-stage candidate and the small company's lead investigational pain drug. (Reporting by Varsha Tickoo in Bangalore)