GENEVA (AP) — Swiss pharmaceutical company Novartis AG says it has halted clinical trials for a new drug to treat hepatitis after one patient died.
The Basel-based company says it has informed the U.S. Food and Drug Administration of "a small number" of reported cases of pancreatitis and one death in patients who were receiving the drug alisporivir and other medication to treat hepatitis C.
Pancreatitis is an inflammation of the pancreas.
Novartis said in a statement Thursday it was notified by the FDA that clinical trials of the drug will be put on hold.
The company reports its first-quarter results on Tuesday.
Novartis shares closed 0.5 percent higher at 50.95 Swiss francs on the Zurich exchange Thursday.Tags: