Reuters: Global Markets: Shire hit by bowel drug study failure

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Shire hit by bowel drug study failure Mar 30th 2012, 11:48 LONDON | Fri Mar 30, 2012 7:48am EDT LONDON (Reuters) - Shire (SHP.L) was hit on Friday by the failure of a clinical study that could have opened up an important new market for its bowel drug Lialda, sending shares in the specialty drugmaker 4 percent lower. Shire said a once-daily dose of mesalamine, the active ingredient in Lialda, failed to reduce the rate of recurrence of diverticulitis in a two-year Phase III clinical study. The medicine proved no better than placebo. As a result, the company does not intend to submit mesalamine, which is already approved for ulcerative colitis under the brand name Lialda, as a treatment for diverticulitis. Diverticulitis is a common digestive disease involving small, bulging sacs of the inner lining of the intestine that become inflamed or infected.

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