Government Shutdown Could Leave Biotech Companies
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Posted On: 01/26/2019 10:55:22 AM
Government Shutdown Could Leave Biotech Companies in a Lurch
The longer the U.S. government shutdown drags on, the wider its impact spreads. With the Food and Drug Administration (FDA) running out of funding, that could spell trouble for biotech and pharmaceutical companies seeking approvals for various treatments. Here are three companies facing major obstacles for important projects.
Aimmune Therapeutics (NASDAQ:AIMT) is stuck waiting for the FDA to review its application for a peanut allergy immunotherapy, which the agency announced won't happen until the shutdown ends. If approved, it would be the first therapy of its kind.
Amarin (NASDAQ:AMRN): A recent study showed that Vascepa, an existing treatment for lowering triglyceride levels, could reduce the risk of major cardiovascular events such as heart attack and stroke. The company plans to apply for a label that includes those benefits in the first quarter of 2019, but there's no telling how long approval could take.
Celgene (NASDAQ:CELG) has two drugs potentially in limbo due to the shutdown. The biggest headache would be additional slowdowns for Ozanimod, a treatment for multiple sclerosis that was previously stalled by a filing mistake. It was expected to be one of the biggest new drugs to hit the market.
https://www.fool.com/investing/2019/01/22/3-b...-us-g.aspx
Go IPIX!!!
The longer the U.S. government shutdown drags on, the wider its impact spreads. With the Food and Drug Administration (FDA) running out of funding, that could spell trouble for biotech and pharmaceutical companies seeking approvals for various treatments. Here are three companies facing major obstacles for important projects.
Aimmune Therapeutics (NASDAQ:AIMT) is stuck waiting for the FDA to review its application for a peanut allergy immunotherapy, which the agency announced won't happen until the shutdown ends. If approved, it would be the first therapy of its kind.
Amarin (NASDAQ:AMRN): A recent study showed that Vascepa, an existing treatment for lowering triglyceride levels, could reduce the risk of major cardiovascular events such as heart attack and stroke. The company plans to apply for a label that includes those benefits in the first quarter of 2019, but there's no telling how long approval could take.
Celgene (NASDAQ:CELG) has two drugs potentially in limbo due to the shutdown. The biggest headache would be additional slowdowns for Ozanimod, a treatment for multiple sclerosis that was previously stalled by a filing mistake. It was expected to be one of the biggest new drugs to hit the market.
https://www.fool.com/investing/2019/01/22/3-b...-us-g.aspx
Go IPIX!!!
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