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Merck KGaA shares plunge after cancer drug hopeful fails

FILE PHOTO: The logo of German pharmaceuticals company Merck is seen at the company's headquarters in Darmstadt

FRANKFURT (Reuters) - Shares in Germany's Merck KGaA slumped 8.9% at the open on Tuesday after the diversified group late on Monday said a trial testing a head and neck cancer drug, previously seen as promising, would be stopped for lack of efficacy.

(Reporting by Ludwig Burger; Editing by Miranda Murray)