NABI BIOPHARMA CLOSES EUROPEAN OPERATIONS

A A

Biotech company Nabi Biopharmaceuticals said Monday it closed its European operations to cut expenses, as it assesses the results of late-stage trial of its experimental staph infection vaccine, StaphVax. The company said in November -- after the product's Phase III clinical trial failed to reduce infections in a kidney patient study -- that it was withdrawing its marketing authorization application in Europe. The company said the closing of its operations in Europe is in line with that decision.

MSN Money (http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=AP&Date=20051219&ID=5366484)