Able Labs to sell assets, not reorganize in bankruptcy

Failing to reach an agreement with the FDA on relaunching its recalled products, Able Laboratories has chosen to liquidate rather than reorganize its business. The company recalled its drugs in May after questions arose about the data filed to support their FDA approval. Able filed for bankruptcy protection in July. The company had asked the agency for permission to use outside consultants to verify its existing drug-development data, but the FDA wanted new data and new applications for the drugs.

- read this press release for more

Suggested Articles

Biotech leaders criticized the dismissals of Chinese scientists from U.S. universities in a letter with more than 150 signatures.

In this week's EuroBiotech Report, Merck allies with Themis on vaccine R&D, Juvenescence raises $100 million and GSK files for anemia approval. 

In our EuroBiotech roundup this week, Scancell withdraws IND, Oxurion’s eye drug fails phase 2a and Abivax starts ulcerative colitis trial.