FDA offers quick review for Shire's prospective blockbuster lanadelumab; Big Pharma loves big buybacks
→ The FDA is helping Shire $SHPG hustle along its application for lanadelumab, which the big biotech believes can peak out at $2 billion in revenue if it can get approved for hereditary angioedema. The agency accepted their application and provided a priority review with a PDUFA date of August 26.
→ What’s biopharma doing with its big tax reform windfall? Well, stock buybacks is grabbing the lion’s share of it so far. Axios tallied up $50 billion in buybacks announced to date, which isn’t sitting well with everyone in the industry.
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