Johnson & Johnson (JNJ) and Bayer AG (BAYN) fell in early trading after U.S. regulators recommended that their blood thinner Xarelto not be approved to prevent stroke in people with the most common abnormal heart rhythm. The Food and Drug Administration said in a staff report released today that “there is insufficient information about the drug to determine whether it is safe for use with its proposed labeling.” An advisory panel of outside experts to the agency will meet Sept. 8 to discuss the new use of the drug, chemically known as rivaroxaban. The FDA isn’t required to follow the recommendations.
