Connect with us

Business

FDA vaccine head will step down in April after string of controversial decisions

Published

on

FDA vaccine head will step down in April after string of controversial decisions


The logo for the Food and Drug Administration is seen ahead of a news conference at the Health and Human Services Headquarters in Washington, April 22, 2025.

Nathan Posner | Anadolu | Getty Images

A key U.S. Food and Drug Administration official who oversees vaccines and biotech treatments will step down from the agency following multiple decisions that raised concerns within the industry.

Vinay Prasad, director of the Center for Biologics Evaluation and Research, will leave the FDA at the end of April, an agency spokesperson confirmed on Friday. It is his second departure from the position: He briefly left the post in July following backlash over his regulatory decisions, and returned only two weeks later in August.

In a post on X, FDA Commissioner Marty Makary said the FDA will appoint a successor before Prasad returns next month to the University of California San Francisco, where he taught before taking the FDA position last year. Makary said Prasad “got a tremendous amount accomplished” during his tenure at the agency.

Prasad’s decision to step down comes after criticism of the FDA mounted within the biotech and pharmaceutical industry and among former health officials. In the past year, the agency has denied or discouraged the approval applications of at least eight drugs, according to RTW Investments, after taking issue with data the companies used to support their applications. The FDA also initially refused to review Moderna’s flu shot before it later reversed course.

All of those companies accused the FDA of reversing previous guidance about the evidence they could use to back their applications, sparking criticism within the industry that an unreliable regulatory process could stifle development of drugs for hard-to-treat diseases.

A former FDA official who spoke to CNBC on the condition of anonymity to speak freely on the issue called the reversals the worst kind of regulatory uncertainty because companies say they are being told one thing and then experience another.

In a statement earlier Friday, an FDA spokesperson said there was “no regulatory uncertainty,” adding the agency “makes decisions based on the evidence, but does not make assurances about outcomes.” The spokesperson said the FDA is “conducting rigorous, independent reviews and not rubber-stamping approvals.”

The most recent controversy came after the FDA discouraged UniQure from applying for expedited approval of its experimental treatment for Huntington’s disease.

The agency, which underwent staff cuts and an overhaul under Health and Human Services Secretary Robert F. Kennedy Jr., has faced broader backlash for its drug and vaccine approvals process. Critics have worried the agency could stifle the development of new treatments and risk the safety of patients.

The Wall Street Journal earlier reported Prasad’s departure.

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Anta: The Chinese sports brand taking on Nike and Adidas

Published

on

Anta: The Chinese sports brand taking on Nike and Adidas



Now one of the biggest sportswear firms, Anta’s rise follows a playbook adopted by many Chinese giants.



Source link

Continue Reading

Business

Gold price prediction today: Will gold prices continue to be volatile? Key levels to watch out for April 27, 2026 week – The Times of India

Published

on

Gold price prediction today: Will gold prices continue to be volatile? Key levels to watch out for April 27, 2026 week – The Times of India


Gold prices recently moved from the upper band toward the mid-band (20 DMA), and are now attempting to stabilize. (AI image)

Gold price prediction today: Gold prices will closely track movements on the rate decisions by several central banks, including the US Federal Reserve, this week, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.Gold is currently consolidating after sharp swings in a broad range, indicating a pause rather than a reversal. Price action shows a higher-high structure intact, but the recent sideways movement suggests indecision near the upper supply zone around 158,000–160,000. The formation resembles a short-term flag/triangle continuation pattern, where a breakout on either side will define the next directional move. Volume has tapered slightly, reinforcing the consolidation narrative.Gold prices recently moved from the upper band toward the mid-band (20 DMA), and are now attempting to stabilize. The bands have started to contract, signaling a potential volatility expansion ahead. Sustaining above the mid-band (~150,500–151,000 zone) keeps bullish bias intact, while a breakdown below this could trigger a deeper mean reversion toward the lower band.For the week, immediate support for gold prices is placed at around Rs 150,500, which is followed by stronger support near Rs 148,500. On the upside, the resistance stands at around Rs 155,500, and after that the key supply zone is at Rs 158,000. A decisive close for gold above Rs 158,000 levels can then resume the broader uptrend. However, a break in gold prices below levels of Rs 148,500 may shift the momentum to bearish in the near term.The economic docket is filled with data points and events this week as the focus will be on FED, BOJ, ECB and ECB policy meetings. US consumer confidence, GDP, inflation and durable goods orders data will also be in radar.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)



Source link

Continue Reading

Business

‘I don’t want the children to see us worried’: UK families feel financial hit of Iran war

Published

on

‘I don’t want the children to see us worried’: UK families feel financial hit of Iran war



British families tell BBC Panorama how the Iran war is affecting their monthly budgets.



Source link

Continue Reading

Trending