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Up Is Down For Relypsa And Merrimack

Market jitters continue to translate into share price losses for companies throughout the biopharma world, even those who achieve the gold medal of a US approval. Two cases in point are Relypsa (NASDAQ:RLYP) and Merrimack (NASDAQ:MACK), which lost 27% and 13% respectively yesterday following positive FDA decisions.

It did not help that both were accompanied by black box safety warnings, although with Merrimack it is more surprising that investors were spooked by news of well-known risks for its base molecule, irinotecan. However, the suddenly tougher-looking FDA adds to pharma pricing pressure as...