Biopharma stocks are sensitive to a key binary event called the PDUFA date, the date by which the Food and Drug Administration is required to give its verdict on a regulatory application filed with it.
The month of March saw several approvals coming through, while outright rejection and postponements were few and far between. Three new molecular entities, or NMEs, were approved during the month. NMEs are drugs that contain active moieties that haven't been previously approved by the FDA. It's, therefore, an indicator of innovation in drug research.
