Bad Week for Biotech
First, Tysbari causes a strange infection in not one, but two Multiple Scleroiss patients
Then, the FDA puts the kibosh on gene therapy trials.
And now it appears Iressa, the poster child for targeted cancer therapy doesn't work either.
I guess this explains Fidelity Biotech going frm $54.95 last Friday to $48.18 yesterday.
Not that traditional pharma had such a great week either
P.S. I know Iressa is marketed by AstraZeneca and the gene therapy trials aren't run by biotech companies. Maybe the head line should be "Bad Week for New Therapies"