Rhythm Pharmaceuticals Receives CADTH Reimbursement Recommendation For IMCIVREE
Portfolio Pulse from Benzinga Newsdesk
Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) has received a reimbursement recommendation from the Canadian Agency for Drugs and Technologies in Health (CADTH) for its drug IMCIVREE (setmelanotide), used for weight management in patients with obesity due to Bardet-Biedl syndrome (BBS). The recommendation is based on the demonstrated clinical benefit in a Phase 3 trial. IMCIVREE is the first and only therapy approved in Canada for this purpose.
November 02, 2023 | 12:24 pm
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POSITIVE IMPACT
Rhythm Pharmaceuticals' stock may see a positive impact due to the CADTH's reimbursement recommendation for its drug IMCIVREE, which could potentially increase its sales in Canada.
The CADTH's recommendation for reimbursement of IMCIVREE could lead to increased usage of the drug in Canada, potentially boosting Rhythm Pharmaceuticals' revenues. This could positively impact the company's stock price in the short term.
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