Celgene to stop testing Crohn's drug, shares drop

Celgene Corp said it would abandon testing a drug to treat Crohn's disease, in a major setback to the U.S. biotechnology company's pipeline amid attempts to lower dependence on its mainstay Revilimid. Celgene said it would stop two trials of the drug, mongersen, and would not initiate a third study following a risk-benefit analysis by a data monitoring committee.

from Biotech News