In a recent announcement from the Food and Drug Administration (FDA), they are now discouraging the use of hydroxychloroquine due to recent findings of its ineffectiveness.
With people continuing to adapt to the coronavirus crisis awaiting a cure and scammers taking advantage to profit from the pandemic, there has been new research that the drugs that President Donald Trump has been using aren’t effective.
The research suggested that taking hydroxychloroquine could cause heart problems, which could lead to death.
The FDA announced this week that the antimalaria drugs weren’t suitable to curing COVID-19 thus withdrawing the emergency approval.
Based on continued review of scientific data, FDA has determined that chloroquine and hydroxychloroquine are unlikely to be effective in treating #COVID19 and therefore we are revoking the emergency use authorization for these drugs: https://t.co/k9kJMeci0a pic.twitter.com/W2aItvFcBU
— FDA Drug Information (@FDA_Drug_Info) June 15, 2020
More details about the withdrawal of the emergency approval can be found in a letter from FDA chief scientist Denise Hilton to Gary Disbrow, acting director of the Biomedical Advanced Research and Development Authority.
Will recent FDA developments have an effect on the markets?
For the past couple of days, the Dow Jones has been experiencing massive drops due to fears of a second wave.
Furthermore, it seems that this new announcement from the FDA could affect its movement unless the Fed pulls off something again to influence liquidity in the financial markets.
Republican Senator Chuck Schumer tweeted to his American followers not to take Trump’s medical advice in taking hydroxychloroquine.
America: Do not listen to President Trump on any medical advice.
His own FDA is rejecting his advice on hydroxychloroquine.
On medical issues like on so much else, he doesn’t know what he’s talking about.https://t.co/9CXZWnyV5f
— Chuck Schumer (@SenSchumer) June 15, 2020
This year in medicine, the U.S. has seen experimental drugs such as remdesivir making rounds on media. They have also received multiple vaccine trial news from Moderna and Novavax which influenced the markets at some point in time.
Some experts, reported by The Washington Post, also viewed the FDA’s emergency use authorization of antimalaria drugs had either insufficient evidence or had something to do with political gain.
Ashish Jha, faculty director of the Harvard Global Health Institute said:
“Until six months ago, I never worried that the FDA decision-making was being driven primarily by political considerations, even when I disagreed with some of that.”
With the recent decision of withdrawing hydroxychloroquine, he added that “they have to try and do something to restore faith in their agency.”
Antimalaria drugs ineffective with remdesivir
In addition, per The Washington Post, the FDA action on June 15 does not affect the drugs’ approvals for other uses.
Although hydroxychloroquine can still be used to treat lupus and rheumatoid arthritis, the FDA advised health care providers to avoid giving these antimalaria drugs to patients who are getting the antiviral drug remdesivir.
With these recent medical developments, America shall see how it will recover from this pandemic as they are currently the country with the most number of coronavirus cases.
Featured image courtesy of AJS1/Pixabay