From WSJopinion: FDA delays carry human and financial costs, and examples are the fates of the Covid vaccine maker Novavax and the testing start-up Lucira
Journal Editorial Report: Paul Gigot interviews Dr. Marty Makary. Images: AFP/Getty Images Composite: Mark KellyPharmaceutical development is intrinsically risky, but all too often companies succeed or fail owing to the whims of government. Consider the travails of Covid vaccine maker Novavax and the testing start-up Lucira Health .
Novavax warned investors last week that it may not be able to stay in business. Its stock has plunged to $7.69 a share from a high of $290 two years ago. The Covid vaccine was Novavax’s first and only commercial product in its 36-year history. Although succeeding in clinical trials, the vaccine has been a commercial flop owing to regulatory delays and manufacturing hiccups.
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