Genentech's Heart Drug Fails Test

Swiss biotech firm Actelion and partner Genentech ( DNA) said Thursday that the drug Tracleer failed a late-stage test in patients suffering from chronic heart failure.

The Food and Drug Administration approved Tracleer last November as a treatment for pulmonary arterial hypertension. Genentech's marketing rights to the drug, however, were dependent on success in chronic heart failure.

Tracleer was tested in more than 1,600 patients with severe chronic heart failure, but the drug failed to meet its two primary goals: risk reduction in time to death or hospitalization, or improvement in the patient's status after nine months.

Shares of Genentech closed Wednesday at $47.98 per share.

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