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Celgene (CELG) admitted bungling an attempt to win approval for an important new drug in a “self-inflicted” error that damaged its credibility on Wall Street, The Financial Times says. Earlier this year, the Food and Drug Administration refused to review an application for a multiple sclerosis pill because Celgene had not done enough work to understand how the drug was metabolized. “[The FDA] kinda said ‘What happened, guys, this isn’t what we usually expect from Celgene?’ And we had to say, you know, ‘mea culpa. It’s on us’,” says Nadim Ahmed, who heads hematology and oncology at Celgene.

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