Opko Health stock falls 10% after drug approval faces delay

Opko Health’s stock closed down 10.6 percent on Wednesday after the company disclosed that the FDA wasn’t ready to approve one of its drug candidates as it had hoped. The Miami-based company (NYSE: OPK), headed by billionaire CEO Dr. Phillip Frost, wanted the FDA to approve its application for Rayaldee to treat vitamin D deficiency in patients with Stage 3 and 4 chronic kidney disease. However, the FDA told Opko that a field inspection of its third-party contract manufacturers between March…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news