FTSE 100 CLOSE: Shire sinks as it withdraws drug application

The biggest faller at trading’s close was biopharmaceutical company Shire, dropping by 3.1% to 2,158p, after it announced that it would be withdrawing an application for human enzyme product Replagal.

The company withdrew the biologics license application Replagal with the US Food & Drug Administration, which it had been in dialogue with “since the supply shortage of the only US approved treatment for Fabry disease”.

It revealed in a statement: “This information does not have any impact on Shire’s 2012 financial guidance.”

Miner Randgold Resources dropped 2.9% to 6,650p. Cairn Energy and asset manager Ashmore both dropped 1.5% to 331.4p and 372.2p, respectively, while National Grid shrank 1.4% to 649.5p.

Lloyds Banking Group was the biggest riser at the close of trading, as share price increased by 2.8% to 36.46p. (article continues below)

High street fashion retailer Next climbed 2.6% to 2,901p, while interdealer broker ICAP added 2.3% to its share price, up to 412.2p.

Miners Rio Tiunto and Kazakhmys both increased by 1.9% to 3,547p and 961.5p, respectively.