Sometimes companies have to roll the dice. Last September, the Food and Drug Administration turned down Gilead Sciences'
But sometimes snake eyes come up: The European Union's Committee for Medicinal Products for Human Use (CHMP) yesterday recommended against approving aztreonam lysine.
The drug is an inhaled antibiotic with the same active ingredient as Elan's
Gilead has already started the trial to satisfy the FDA, which will hopefully be all the drugmaker needs to gain approval in Europe as well.
The drugmaker has been diversifying away from its core HIV franchise and into other areas like cystic fibrosis and heart drugs with its acquisition of CV Therapeutics
Elan and Vertex Pharmaceuticals are current Rule Breakers recommendations and CV Therapeutics is a former pick. The newsletter is always on the hunt for hot drug stocks and other cutting-edge picks. Click here to see all of our latest discoveries with a free 30-day trial subscription.