FDA issues warning about Intercept’s Ocaliva after 19 patients died

The FDA has officially warned doctors about the risks from Intercept Pharmaceuticals’ Ocaliva (obeticholic acid), after 19 patients on Intercept’s drug, developed to treat PBC (Primary Biliary Cholangitis) had died. The FDA, anyway, has specified that the deaths have occurred because the drug had been excessively dosed, resulting in an almost immediate liver dysfunction. Ocaliva was approved in May and has had 15,000 prescriptions since then, delivering revenues of approximately $30.4m. Investors soon started to lose interest in Intercept (NASDAQ), whose shares were already down 18% halfway through the trading day. (Source: Bloomberg)