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Amgen halts pancreatic cancer drug trial

THOUSAND OAKS, Calif. (AP) -- Biotech drugmaker Amgen Inc. said Wednesday that it is halting a study of an experimental drug for reoccurring pancreatic cancer due to disappointing results.

The company said a board of medical experts recommended ending the trial because the drug, ganitumab, appears unlikely to help patient live longer. The company said there were no safety issues associated with the drug.

Amgen's study randomly assigned patients to receive the drug plus chemotherapy or a placebo with chemotherapy.

Ganitumab is a biotech drug that targets proteins associated with growth.

"These disappointing results underscore the difficulty of treating pancreatic cancer, which remains a major unmet medical need," said Sean Harper, executive vice president of research at Amgen.

Amgen Inc. shares fell 20 cents to close at $81.37.