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Biotech / Medical : ACADIA Pharmaceuticals Inc (ACAD)

ACAD 22.70

-0.2%

Oct 31 9:30 AM EST

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From: scion	7/9/2018 12:34:20 PM
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Acadia Pharmaceuticals: This Is Not a Pharmaceuticals Company By Roddy Boyd 2 hours ago sirf-online.org Frequently sporting a $2 billion plus market capitalization, Acadia Pharmaceuticals brings to mind the work of Belgian surrealist Rene Magritte. His 1929 painting “The Treachery of Images” depicts a pipe with the inscription “This is not a pipe,” suggesting that an image and its meaning don’t necessarily correspond with each other. In that vein, San-Diego-based Acadia cleverly portrays itself as a pharmaceutical company but a Southern Investigative Reporting Foundation investigation has revealed that this is merely a clever facade. What lies below is a ruthless marketing entity whose pursuit of regulatory approval is best described as “loophole-centric.” Nonetheless, in little more than two years, Acadia has gained a remarkable foothold in the pharmaceutical marketplace. The company generated $124.9 million in sales last year — a steep increase from its $17.3 million in 2016 — and its management has told brokerage research analysts to expect its revenue to more than double this year. This is troubling since evidence is mounting that something is horribly wrong with Acadia’s sole drug, Nuplazid, an anti-psychotic for Parkinson’s disease patients who experience episodic hallucinations and delusions. These are symptoms of a condition called Parkinson’s disease psychosis. In April CNN uncovered a dramatic increase in the number of reports involving Nuplazid filed with the Food and Drug Administration’s adverse events reporting system. As noted in CNN’s reporting, an adverse event report does not mean that a drug is the cause of harm, but the document is used to help track possible issues. In the wake of CNN’s story, FDA Commissioner Scott Gottlieb took the unusual step of telling lawmakers he would order his colleagues to “take another look” at the drug. Acadia, in reply to a question about Gottlieb’s statement, sent the Southern Investigative Reporting Foundation a six-page press release from April 27 that asserted the FDA had not determined the drug had a new risk and that doctors could continue to prescribe it. Acadia has accomplished its growth in ways that have attracted intense regulatory scrutiny for other drug companies. The questionable practices include dispensing wads of cash to doctors to incentivize prescription writing and downplaying mounting reports of patient deaths. — — — More sirf-online.org

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