Prognosis
Ipsen Plunges as FDA Halts Bone Drug Trial in Children on Safety Concerns
- Treatment was seen as a replacement for sales of Somatuline
- Drug studies will continue in people 14 years and older
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French drugmaker Ipsen SA had a record plunge after U.S. regulators suspended trials of its experimental treatment for rare bone diseases in patients under 14 on safety concerns.
Two trials were put on hold in children after discussions with the Food and Drug Administration, Ipsen said Friday in a statement. The shares fell as much as 24% in Paris, lopping off 2 billion euros ($2.2 billion) of market value in the steepest decline since they began trading in 2005.