NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of Celgene Corporation (“Celgene” or “the Company”) (NASDAQGS: CELG) concerning possible violations of federal securities laws.
On October 19, 2017, Celgene announced that it would discontinue its trials for GED-0301 and would record a $1.6 billion impairment charge because of the drug’s failure. On October 26, 2017, Celgene identified some of its key drugs that had missed sales expectations for the quarter. Then on February 27, 2018, post-market, Celgene disclosed that the U.S. Food and Drug Administration (“FDA”) had rejected the Company’s New Drug Application (“NDA”) for Ozanimod, a multiple sclerosis treatment. Celgene stated that it had received a refusal-to-file letter from the FDA, which advised the Company that it had “determined that the nonclinical and clinical pharmacology sections in the NDA were insufficient to permit a complete review.” To obtain additional information, go to:
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