Merrion up 25% on insulin study

Shares in Irish drug development company Merrion Pharmaceuticals jumped by 25% yesterday on the back of news that the firm has moved a step closer to playing a pivotal role in transforming diabetes medication.

The Dublin-headquartered firm announced yesterday that its main strategic partner, Danish healthcare company, Novo Nordisk has successfully completed an early-stage study into an oral insulin treatment being worked on by the two companies.

If successful the treatment — which currently has the in-trial codename of ‘NN1954’ — would be the first of its kind commercially available.