Wallace Witkowski came to MarketWatch from the Associated Press in New York, where he covered the business of Big Pharma, after covering FDA regulation of many of the same companies, as well as medical devices, in the Washington, D.C., area.
CVS Health Corp. CVS, +0.18% is pulling decongestants off their shelves that contain an ingredient an Food and Drug Administration advisory committee determined did not work, according to a Thursday report from the Wall Street Journal.
Used as a key ingredient in decongestants for nearly a century, FDA advisors in September determined that phenylephrine did not improve congestion. While the FDA has not made a decision on the ingredient, CVS said it is voluntarily taking products containing it off their shelves. CVS shares were last up 0.1% in recent activity.
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