No new benefits for Onglyza

Investor's Business Daily

A diabetes drug being tested for heart benefits by makers Bristol-Myers Squibb (BMY) and AstraZeneca (AZN) didn't reduce heart attacks, strokes or death any more than a placebo in a study. The companies said Onglyza, a once-a-day diabetes pill, failed to show the expected new benefits. The drugmakers will present full results of the trial, which involved 16,5000 patients with diabetes and a history of heart problems or high-risk factors, at a Sept. conference. Bristol-Myers shares fell 1.7% to 46.05. AstraZeneca fell 1.6% to 50.19.

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