Hyperion Therapeutics Inc. said it would stop development of its diabetes drug after the company found out that employees of its subsidiary engaged in unlawful conduct, according to a Reuters article.
Employees of the Israeli drug developer, Andromeda Biotech Ltd, which Hyperion acquired in June, engaged in serious misconduct that involved receiving unblinded data from the trial and manipulating it to obtain a favorable result, Hyperion said.
"This new information leaves us with no viable regulatory path forward," chief executive Donald Santel said in a statement.
The company said it expected to record an impairment charge of $25 million-$55 million related to the discontinuation. Read the full article