Pharmanex
This article was originally published in The Tan Sheet
Executive Summary
Supplement marketer drops appeal of Salt Lake City federal judge's March decision affirming FDA's determination company's Cholestin red yeast rice product is a drug. Firm originally appealed the ruling May 31, but filed a motion to dismiss the appeal Sept. 10, one day before its opening brief was due to be filed with the 10th Circuit U.S. Court of Appeals in Denver. Difficulties in prevailing on appeal, litigation costs contributed to company's decision. Firm introduced a reformulated version of Cholestin in July (1"The Tan Sheet" July 16, In Brief)