Rejected: After paying $80M to acquire it, Mallinckrodt's jaundice drug snubbed by FDA's advisory committee
Mallinckrodt just got a big thumbs down from the FDA’s advisors who say data on the company’s newly-acquired jaundice drug isn’t convincing a majority of the group that it’s safe and effective.
The England-based drugmaker just bought the drug — called stannsoporfin — from InfaCare last year. It paid $80 million upfront in a deal that could add up to $425 million if milestones were reached. But the drug’s future is now cast in shadow, as the FDA’s advisory committee voted a strong no, with a clear majority (21 to 3) voting against an OK.
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