Eli Lilly partner Chi-Med sees shares tank as its newly approved cancer drug flunks PhIII lung cancer trial
Shares of Hutchison China MediTech — better known as Chi-Med — took a nasty hit Friday morning with the news that their lead drug fruquintinib failed a Phase III study for third-line cases of non-small cell lung cancer in China.
The first major new drug to be developed in China and approved by regulators for colon cancer just 2 months ago, researchers say their drug — partnered with Eli Lilly — flopped on the overall survival mark, the primary endpoint.
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