Health Sector Headlines: Drug Withdrawals, AI Devices, and Job Cuts
Current health news briefs include Intercept Pharma's withdrawal of a liver disease drug from the US market after FDA's request. Additionally, FDA plans to review AI digital health devices, Advent International sells Zentiva to GTCR, and Novo Nordisk's job cuts as it battles competition in the weight-loss market.
Intercept Pharmaceuticals announced it will pull its liver disease drug, Ocaliva, from the U.S. market due to safety concerns raised by the Food and Drug Administration. The decision marks another hurdle for the company after FDA's previous denial of full approval criteria over liver injury concerns.
Ahead of a regulatory advisory panel meeting set for November, the FDA will discuss the burgeoning class of AI mental health devices. The focus will be to determine how these AI tools can address mental health service gaps while examining potential risks associated with their use.
Novo Nordisk announced a significant restructuring effort, cutting 9,000 jobs amid fierce competition in the weight-loss drug market. The reduction aims to streamline operations and revive the company's standing as it competes against U.S. rivals and faces market challenges.
(With inputs from agencies.)
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