I suppose the thought was that this candidate might one day reinvigorate the now-off-patent (and eroding via generics) market formerly held be Fosamax®. Not so, per Reuters, this morning:
. . . .Merck has ended a licensing agreement with Japan Tobacco to develop and market an experimental agent that stimulates bone growth for the treatment of osteoporosis. . . .
The two firms concluded the deal in 2008, giving Merck worldwide rights outside of Japan to develop and market the Japan Tobacco compound. . . .
Probably a wise decision.