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UPDATE 1-Merck, Takeda cancel development of cancer drug

Mon Feb 18, 2008 3:15am EST

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(Adds details, company comment)

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TOKYO, Feb 18 (Reuters) - Merck KGaA (MRCG.DE) and Takeda Pharmaceutical Co Ltd (4502.T) have decided to terminate the development of cancer drug matuzumab after its mid-stage trials failed to meet expectations, Takeda said on Monday.

Merck KGaA and Takeda, Japan's biggest pharmaceutical maker, have been assessing the effects of matuzumab in Phase II clinical trials on metastatic colorectal cancer, gastric cancer and non-small cell lung cancer.

"The discontinuation will have a minimum effect on our earnings," a Takeda spokesman told Reuters.

The drug, originally discovered by Merck, was designed to work by inhibiting a growth factor called EGFR expressed in cells, blocking the proliferation of cells that can lead to cancer.

The two companies had been cooperating to develop and commercialise together the cancer drug since September 2005. (Reporting by Taiga Uranaka; Editing by Eric Burroughs)

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