Ipsen Shares Rise After FDA Panel Backs Drug for Rare Bone Disease
June 29 2023 - 4:11AM
Dow Jones News
By Adria Calatayud
Shares in Ipsen rose Thursday after the company said a U.S. Food
and Drug Administration advisory committee voted in favor of
palovarotene as a treatment for ultra-rare bone disease
fibrodysplasia ossificans progressiva.
At 0737 GMT, shares in the French pharmaceutical company rose
3.4% at EUR109.80, having earlier risen as much as 6%.
Ipsen said then FDA panel voted 10-4 in favor of the drug as an
effective treatment, and 11-3 in favor of considering that the
drug's benefits outweigh its risks.
The FDA is currently reviewing a new-drug application for
palovarotene and a decision is anticipated by Aug. 16, Ipsen
said.
RBC analysts Alistair Campbell and Charles Weston said it now
seems likely that the FDA will approve palovarotene in the U.S.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
June 29, 2023 03:56 ET (07:56 GMT)
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