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Bristol Diabetes Drug Gets Thumbs-Down

An advisory panel to the FDA voted nine to six against the agency approving dapagliflozin, a diabetes treatment developed by New York-based Bristol-Myers Squibb (NYSE: BMY) and AstraZeneca (NYSE: AZN), according to a press release. Dapagliflozin is among a new class of drugs designed to inhibit SGLT2, a protein that promotes the reabsorption of glucose by the body. The FDA doesn’t have to follow the recommendations of its advisory panels, but it usually does. The panel’s rejection led Goldman Sachs analyst Jami Rubin to declare in a report “SGLT2 class likely dead.”

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