Latest AstraZeneca trial flops

Drugs giant AstraZeneca announced disappointing results for its latest clinical trials of a diabetes drug today.

The company had joined forces with rival Bristol-Myers Squibb to research a treatment for type 2 diabetes. But it said that the large-scale study showed the drug “Onglyza” was not effective at reducing the risk of strokes and heart attack as had been hoped.

The trail, known by its project name of “Savor”, showed Onglyza was no more or less effective than a placebo.

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AstraZeneca is trying to revitalise its diminishing product pipeline as patents on some of its big sellers lapse. It has recently turned to acquisitions to make up the shortfall, paying £740 million for Pearl Therapeutics and £293m for heart specialist Omthera Pharmaceuticals in recent weeks.