CORRECTED - UPDATE 1-Novartis takes $235 mln charge after stopping trial
(Corrects name of treatment throughout, Aurograb not Autograb)
ZURICH, Aug 29 (Reuters) - Novartis AG (NOVN.VX: Quote, Profile, Research, Stock Buzz) stopped development of its Aurograb treatment for bacterial infections after it showed a lack of efficacy in mid-stage trials, and said it would take a $235 million impairment charge.
The Swiss drugmaker said on Friday the charge would be taken in its third quarter results.
Novartis acquired Aurograb, an add-on therapy to antibiotics that was being assessed for use in treating deep-seated staphylococcal infections, in 2006 with its acquisition of NeuTec Pharma.
Another compound acquired with Neutec, Mycograb, continues in late-stage trials and is being assessed as an add-on therapy to antifungals. (Reporting by Sam Cage; Editing by David Cowell)
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