Book Summary: Why Nations Fail

Recently I read the book Why Nations Fail: The Origins of Power, Prosperity and Poverty by Daron Acemoglu and James A. Robinson. Why nations fail is of course is a very important question, but one economists often shy away from because it is so multifaceted. In this book, however, the authors argue that one sufficient…

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Long Regulatory Saga for Intercept Pharma Liver Drug Ends a Decade After Speedy FDA Approval

Intercept Pharmaceuticals is voluntarily withdrawing from the market Ocaliva, a drug for the rare liver disease primary biliary cholangitis. While Ocaliva became an important new treatment option when it won accelerated FDA approval in 2016, PBC patients now have new FDA-approved medicines from Ipsen and Gilead Sciences that don’t pose the same safety risks. The…

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