Testing begins for a new form of PrEP

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Good morning. Jason Mast here filling in for Elaine. We’ve got a dramatic vote on psychedelic therapy, record drug shortages, bad (maybe?) news for Biomarin, and a new kind of PrEP.

The need-to-know this morning

• Eli Lilly Chief Financial Officer Anat Ashkenazi is leaving the company for a job outside the pharmaceutical industry, Lilly announced. Askenazi is joining Alphabet and Google as its new CFO. A search for a new CFO at Lilly is underway.

FDA panel recommends against approving MDMA-assisted therapy

An advisory committee yesterday voted overwhelmingly against both questions put to it by the Food and Drug Administration on MDMA-assisted therapy, effectively recommending against what would be the first approval of a psychedelic drug. The FDA doesn’t have to follow the recommendations of advisory panels but generally does.

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