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Biotech / Medical : PFE (Pfizer) How high will it go?
PFE 25.70-0.1%3:59 PM EST
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To: Yar who wrote (3600)6/20/1998 9:22:00 AM
From: mauser96  Read Replies (2) of 9523
 
Each country makes it's own rules about when to allow a drug on the market in that country. I don't know about the specific case of Zeldox, but the general rule is that the FDA is tougher than similar agencies abroad, so that new drugs are usually available in other countries first. This isn't always the case- for instance Viagra has yet to be approved in Canada. Many countries could save their taxpayers a lot of money by automatic approval if the USA approves.
It would be very interesting to see a study evaluating whether the sum total of FDA efforts to regulate drugs has saved more people than it has hurt. The FDA delayed release of drugs to treat advanced AIDS until they were forced to change by threat of imminent congressional action. IMHO, the FDA is driven more by politics than science, and operates on the dubious assumption that a risk free world is obtainable, and that your body belongs to the government, not you.
The news about the FDA hit the market at 2:45 PM Eastern time, and by the close PFE had already recovered half it's losses, so I think we have already seen the professional response to the news. There is a fair chance of a sharp downward pressure right after the market opens Monday as the general public reacts (having had all weekend to worry). If that happens I will buy more. I don't think this news makes much difference long term.
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