Despite FDA OK, Keryx Sinks on Gross-to-Net Surprise

Despite FDA OK, Keryx Sinks on Gross-to-Net Surprise

Keryx Pharmaceuticals' (NASDAQ: KERX) Auryxia just won the Food and Drug Administration (FDA) green light for boosting iron levels in non-dialysis chronic kidney disease patients, but shares dropped following third-quarter financial results that failed to impress. Can Keryx Pharmaceuticals' new approval kick-start revenue and investor optimism?

Inking contracts with big Medicare Part D payers allow drugmakers like Keryx to target millions of new patients, but Part D coverage can be a double-edged sword.

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Source: Fool.com