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Catalyst Pharma down 10% on Sanders move to resume distribution of low-cost amifampridine

  • Catalyst Pharmaceuticals (CPRX -9.5%) slumps on more that 20% higher volume in apparent reaction to a letter sent to FDA Commissioner Scott Gottlieb, M.D. from U.S. Senator Bernie Sanders (I-VT) urging him to allow the resumption of distribution of free or low-cost amifampridine.
  • The drug, used to treat a rare autoimmune disorder called Lambert-Eaton myasthenic syndrome (LEMS), was distributed at no charge by a New Jersey drug maker under a government compassionate use program until the FDA approved Catalyst's branded version called Firdapse three months ago. The company's $375K list price has been controversial considering the current political headwinds against excessive prices, especially for off-patent medicines with little or no competition like amifampridine.

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