GSK's $4.2B bet on Merck KGaA's cancer drug goes up in smoke as pharmas cut ties after series of flops

GSK's $4.2B bet on Merck KGaA's cancer drug goes up in smoke as pharmas cut ties after series of flops

Source: 
Fierce Biotech
snippet: 

Merck KGaA and GlaxoSmithKline are ending a partnership for the oncology asset bintrafusp alfa which could have netted billions for the German pharma if successful.

But the data just didn’t pan out that way in multiple tests, most recently a phase 2 clinical trial in locally advanced or metastatic biliary tract cancer that was discontinued due to futility.