Isis Accused Of Hiding Cholesterol Drug's Safety Risks

Law360, New York (January 2, 2013, 3:34 PM EST) -- A putative class action launched Friday in California federal court alleges Isis Pharmaceuticals Inc. misled investors over the safety and effectiveness of cholesterol disorder treatment Kynamro, which U.S. Food and Drug Administration researchers warned in October had potentially serious side effects.

Although an FDA advisory committee eventually recommended that the agency approve the drug, which Isis is developing with Genzyme Corp., the suit launched by Isis investor Morad Ghoodshim alleges the company's senior management failed to disclose that Kynamro’s clinical trials couldn't sufficiently demonstrate the drug’s...
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