Bumpy ride for BTG and Astra after trials failure

AstraZeneca and BTG yesterday axed plans to develop a new drug to treat severe blood poisoning after it failed medical trials.

Stage II trials comparing doses of the duo's CytoFab treatment with placebo drugs in patients with severe septicaemia or septic shock "did not show any significant improvements versus the placebo", the firms admitted.

As a result, the drug has been shelved, leaving BTG, led by Louise Makin, with a £28m charge for this financial year. Its shares were knocked back in early trading, although by the end of the day the stock had recovered. AstraZeneca shares lost 61p to 3015p but most of that was because its dividend was being paid out yesterday.