FDA’s ‘key man’ Peter Marks is out. Biotech traders will now take care of the implications
Robert F. Kennedy Jr. forcing Peter Marks out of the Meals and Drug Administration has blown a gap within the company’s management ranks and threatens to unmoor the oversight of medication and vaccines from bedrock scientific ideas.
For biotech traders, Marks’ ouster is a worst-case situation realized — an FDA riven by dysfunction and uncertainty. And it comes at a time when the sector is already struggling by way of a years-long public markets hunch.
A disaster in confidence on the FDA is probably calamitous. Investing in biopharma corporations turns into exceedingly tough if the regulatory company in command of evaluating and approving life-saving (and money-making) medicines stops following predictable, well-established requirements.
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