Posted on 03/01/2023 1:02:02 AM PST by Libloather
Feb 28 (Reuters) - The U.S. Food and Drug Administration neurosciences head Billy Dunn will retire from his role effective immediately, the health regulator told Reuters on Tuesday.
Wall Street analysts said Dunn's departure could impact the regulator's stance on neurological drug decisions in the near term, sending down shares of Reata Pharmaceuticals Inc (RETA.O) 30% on Monday when media reports on the exit surfaced.
Texas-based Reata is expecting FDA's decision by Tuesday on its drug to treat a rare neuromuscular disorder called Friedreich's ataxia.
**SNIP**
Jefferies analyst Maury Raycroft said in a research note that while Dunn's departure may have already been in the works, his immediate exit ahead of the agency's decision on the Reata drug raised suspicion about the timing.
The FDA declined to comment on the speculation, which hit the stocks of some neurological drugmakers on Monday - Biogen (BIIB.O) had fallen marginally and Amylyx Pharmaceuticals (AMLX.O) declined 2.5% in the previous session.
Shares of Reata fell nearly 6% on Tuesday before reversing losses.
Dunn was integral in the FDA's controversial decision to approve Biogen Inc (BIIB.O) and Eisai Co's (4523.T) Alzheimer's drug Aduhelm last year despite a lack of evidence that it worked at slowing the effects of the disease.
(Excerpt) Read more at reuters.com ...
The Big Guy wasn’t getting his 10% of the bribes.
Muscular Dystrophy Association Celebrates FDA Approval of Skyclarys, First Ever Treatment for Friedreich’s Ataxia from Reata Pharmaceuticals
https://finance.yahoo.com/news/muscular-dystrophy-association-celebrates-fda-011800647.html
Are these people leaving these high dollar government positions so they can’t be asked to answer for their actions and decisions over the past few years. Is it so they can respond to any inquiry with “I don’t know, I do not work there any longer, and have no access to any information”?
The above is a serious question. What responsibility and legal requirements do former FDA officials have when it comes to responding to investigative political committee’s questioning?
Many years ago I came to the conclusion politicians and bureaucrats should spend an equivalent amount of time in jail as they served.
definitely
Government employees whether grand Pooh Bah of whatever or peons cannot claim 5th amendment protections either to congress or courts in the context of their official actions. As private persons they can. I wonder if this out-of-the-blue resignation is a reflection of this?
Yes. Once they become a private citizen, they are under no more obligation to talk to Congress as you are.
I believe they have sovereign immunity or qualified immunity against good faith acts connected either their official duties. It’s a pretty high bar to clear although I think it is unnecessarily high.
It’s the reason why judges for example cannot be arrested for a sentence no matter how ridiculously light it is for the defendant committing a crime. Or a bail decision where subsequent crimes are committed are. Or the liability of the judicial officer because of this qualified immunity.
Wonder what his retirement job will be?
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