Shire shares have slumped more than 4% after a disappointing trial result.
The company said a phase 3 trial of MMX mesalamine, an anti-inflamatory drug, for digestive disease diverticulitis - conducted in 10 countries over two years - did not reduce the rate of occurence or show any significant difference to placebo.
Another trial is due to report later this year but Shire said it did not currently intend to make a regulatory filing for the treatment. Its shares have dropped 94p to £20.24.
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