Takeda Shares Drop After Scrapping Development of Diabetes Drug
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Takeda Pharmaceutical Co., Asia’s largest drugmaker, scrapped development of a diabetes drug after failing to show the medicine’s benefit outweighed its risk. The stock tumbled.
Takeda terminated the development of TAK-875 after it was linked to liver damage, the company said in a statement to the Tokyo Stock Exchange today. The decision was made after consulting with three independent panels on what the trials showed about the drug’s safety, the Osaka-based company said.