AstraZeneca drops Rigel rheumatoid arthritis pill

By Ben Hirschler LONDON (Reuters) – AstraZeneca has decided to end development of fostamatinib, a rheumatoid arthritis pill that was one of its few late-stage experimental medicines, following disappointing overall results. The decision is a blow to AstraZeneca’s already sparse new-drug pipeline and a bigger setback for Rigel Pharmaceuticals, the U.S. biotech firm that struck a licensing deal for the medicine with Britain’s second-biggest drugmaker in 2010. …