Glaxo, Xenoport migraine drug fails, shares fall

An experimental migraine drug from Britain's GlaxoSmithKline and its partner XenoPort has failed in mid-stage trials, sending the US company's shares down more than 25 per cent. The setback, described by both drugmakers on Wednesday as disappointing, took XenoPort's stock down 25.6 per cent to $6.60 in morning trading on the Nasdaq. GSK's shares also weakened, losing 0.85 per cent by 1316 GMT in an otherwise flat sector.