Sun Pharmaceutical Industries Limited said on Thursday it will acquire U.S.-based Concert Pharmaceuticals for $576 million in cash to gain access to an experimental drug for treating patchy baldness.
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Pfizer and Roivant Sciences unveiled a new company called Priovant Therapeutics to develop and market new therapies for a wide range of autoimmune diseases with high mortality and morbidity rates.
“Access to safe and effective treatment options is crucial for the significant number of Americans affected by severe alopecia,” said Kendall Marcus, M.D., director of the Division of Dermatology and Dentistry in the FDA’s Center for Drug Evaluation and Research, adding that the approval fulfills a significant unmet need for patients with severe alopecia areata.