US EditionFDA Flags Misleading Claims for Cancer Drug by Biotech Billionaire Patrick Soon-Shiong
The FDA found ImmunityBio's Anktiva ads misleading by omitting risk details and falsely calling it a cancer vaccine; shares dropped 24% after the warning, regulators said.
- Federal health officials issued a warning over misleading statements made by biotech billionaire Dr. Patrick Soon-Shiong, who claimed his company's bladder cancer drug can treat, cure or prevent other cancers.
- The Food and Drug Administration warning letter takes issue with an advertisement and a podcast episode promoting Anktiva, the lead product of ImmunityBio Inc., owned by Soon-Shiong.
- The FDA letter gives ImmunityBio 15 days to correct the problems and respond about its plans, as drug promotions are required to give a balanced view of risks and benefits.
21 Articles
21 Articles
Associated Press News
FDA flags misleading claims for cancer drug by biotech billionaire Patrick Soon-Shiong
Federal health officials have issued a warning about controversial statements made by biotech billionaire Dr. Patrick Soon-Shiong about one of his company's cancer drugs.
US Stocks: ImmunityBio shares drop 20% on FDA warning letter over cancer therapy claims in ad
Shares of ImmunityBio fell 20% on Tuesday after the U.S. Food and Drug Administration issued a warning letter that said a television advertisement and podcast promoting its cancer therapy were false or misleading and violated federal law.
ImmunityBio (IBRX) Shares Plunge 21% Following FDA Warning Letter on Misleading Cancer Drug Marketing
Key Takeaways Federal regulators sent ImmunityBio a formal warning letter regarding a television advertisement and podcast episode containing misleading statements about ANKTIVA Marketing content inaccurately implied the drug could address all forms of cancer, despite approval limited exclusively to a narrow bladder cancer indication used with BCG therapy Both CEO Richard Adcock and Executive Chairman Dr. Patrick Soon-Shiong were explicitly nam…
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