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Article: Disappointing drug trials pull Alcon stock down 11 percent.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- October 15, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Roger Yu, The Dallas Morning News Knight Ridder/Tribune Business News
Oct. 15--Shares of Alcon Inc. fell 11 percent Thursday after the company revealed that a clinical test shows its much-anticipated drug for treating blindness hasn't outperformed a rival product already on the market.
In the one-year study, Alcon, a Swiss maker of eye-care products with its U.S. headquarters in Fort Worth, compared its drug, Retaane, with Novartis AG's Visudyne.
The percentage of patients who maintained vision when treated with Alcon's drug was 45 percent, compared to 49 percent for those using Visudyne.
"These overall results indicate that ...