Clinical trial failures can kill biopharma companies. While some larger firms can eventually recuperate from the loss of millions invested in a drug that fails its trials, for many companies it can mean layoffs, buyouts, and even shutdowns—just look at TeGenero, a company that filed for insolvency in 2006 after its disasterous Phase I clinical trial of TGN1412 nearly killed its first human subjects.
You've seen a list of the best-selling drugs of the 21st century; now, get ready for the top 10 biopharma clinical trial failures of 2012. The top five are ranked by the size of the writedowns taken by the drug developer(s) following the trial outcome. The bottom five, for which no writedowns have been announced, were listed alphabetically.