Merck, Daiichi lung cancer therapy rejected in U.S. (NYSE:MRK)

FDA headquarters in Washington DC.

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The U.S. Food and Drug Administration (FDA) has declined to approve an antibody-drug conjugate known as HER3-DXd developed by Merck (NYSE:MRK) and Daiichi Sankyo (OTCPK:DSKYF) as a late-line option for a certain type of lung cancer.

The companies announced Thursday