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The Phase 2 data exceeded expectations, lifting company shares as high as nearly $130 apiece and building the case for what may be the first pill specifically approved for female pattern hair loss.

The speedy clearance of Lipfendra is an important milestone for Merck and the result of a controversial voucher program put in place by former FDA commissioner Marty Makary.

Takeda has unveiled more data from its phase 3 trials of zasocitinib, demonstrating that the once-daily pill was able to clear or almost clear scalp psoriasis in 75% of patients.