BTG
The rejection by America’s Food and Drug Administration of one of BTG’s new medicines was another setback for the company but not unexpected (Alex Ralph writes).
BTG said yesterday that a pre-market approval application for its Elevair treatment, for people with severe emphysema, had been unsuccessful. As recently as April it had been hoping for the green light by the end of the year, but an advisory panel to the regulator recommended against approval in June. The opinions of the panel are taken into account by the FDA.
The latest pullback in BTG’s shares on the London stock exchange yesterday, down 12p, or 2.3 per cent, to 513p, appears to reflect the weak sentiment plaguing the stock at present. The shares have retreated by