Jefferies has issued a report that the FDA advisory panel has voted against the approval of Bristol-Myers Squibb's BMY dapagliflozin.
According to the report, "The FDA's Endocrinologic and Metabolic Drugs Advisory Committee (AdCom) voted that the efficacy/ safety data did not provide substantial evidence to support approval of Bristol Myers'/ AstraZeneca's diabetes drug dapagliflozin on Tuesday (19th) evening (at the US market close). We expect a complete response letter (CRL) from the FDA on/ by October 28."
BMY has a Hold Rating and a $27 Price Target.
BMY closed yesterday at $28.81 a share.
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Posted In: Analyst ColorAnalyst RatingsHealth CareJefferiesLife Sciences Tools & ServicesPharmaceuticals
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