GlaxoSmithKline, Merck Shares Lower as FDA Raises Concern Over Prostate Cancer Drugs

The US Food and Drug Administration has raised concerns over two drugs made by GlaxoSmithKline (GSK) and Merck (MRK), Reuters reported. Shares of both drug makers are trading lower in the regular session. The FDA said in documents released ahead of a public advisory meeting Wednesday that there was an "unexpected finding of an increased incidence of high-risk prostate cancers among men receiving" the drugs in question, according to the report. Both companies' drugs are approved to treat symptoms in men with enlarged prostate. Glaxo is seeking wider approval to market its drug. Glaxo ADRs are down 2.49%, or $0.98, to $38.44. Merck shares are down 1.06% to $34.42.

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