Monday, April 2, 2007

UPDATE 1-Novartis stock sags after Zelnorm drug is pulled

(Reuters) - Novartis said on Friday the U.S. Food and Drug Administration watchdog had asked it to suspend marketing and sales of the drug because clinical trial data indicated a possible link to heart attacks and strokes.

As a consequence, the group cut its outlook for net sales growth for 2007 to above five percent, and for the pharmaceuticals division to a low- to mid-single-digit percentage.


Read more at Reuters.com Government Filings News

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