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home / news releases / RAD - Federal judge suspends FDA approval of abortion pill mifepristone


RAD - Federal judge suspends FDA approval of abortion pill mifepristone

2023-04-07 20:01:57 ET

  • In a victory for opponents of abortion, a federal judge in Texas has suspended the approval the abortion pill mifepristone.
  • U.S. District Judge Matthew Kacsmaryk's decision is essentially an injunction preventing sales of the drug while a case before him, brought by anti-abortion groups, on the approval of the drug continues.
  • Kacsmaryk gave the Biden administration a week to appeal the decision. During this time, the suspension will be delayed, The Wall Street Journal reported.
  • In his ruling, the judge said that the US FDA had made legal errors in its approval. Mifepristone, approved in 2000, also goes by the brand name Mifeprex.
  • Large pharmacy chains, including CVS Health ( NYSE: CVS ), Walgreens Boots Alliance ( NASDAQ: WBA ), and Rite Aid ( NYSE: RAD ) have faced pressure from many state attorneys general who want to block access to the drug and other politicians who want to make sure it will remain available .
  • Dear Readers: We recognize that politics often intersect with the financial news of the day, so we invite you to click here to join the separate political discussion .

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Federal judge suspends FDA approval of abortion pill mifepristone
Stock Information

Company Name: Rite Aid Corporation
Stock Symbol: RAD
Market: NYSE
Website: riteaid.com

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