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In with the old, out with the new. At least, that's what GlaxoSmithKline(GSK Quote) may be thinking today in the dissolution of one relationship and the creation of another.
Synta Pharmaceuticals(SNTA Quote) and GSK severed ties today over the experimental drug elesclomol. The two companies were in a partnership to test and market the drug as a treatment for late-stage melanoma.
But the collaboration is ending by September 10th after results of a disappointing trial were announced earlier. The study showed no statistical significance for the survival of patients treated with elesclomol and the chemotherapy agent paclitaxel, as compared to those treated with only the chemotherapy agent. ...
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