Actelion's key drug fails pulmonary fibrosis study

Actelion said its drug Tracleer had failed to help reduce mortality in patients suffering from idiopathic pulmonary fibrosis, a setback in the group's push to broaden the use of its most important drug. "These findings do not support initiating regulatory proceedings," Jean-Paul Clozel, the chief executive officer of Europe's biggest biotech group said in a statement, adding that its safety had not been questioned. Analysts have said Actelion is overly dependent on Tracleer and needs to establish its use for other diseases and bring through more new products, like sleep medicine almorexant, to diversify. Tracleer earned 1.5bn Swiss francs ($1.4bn) in 2009.