When you fail multiple randomized controlled clinical trials, it becomes harder to to entertain the possibility of efficacy, or if there is any efficay it is incredibly weak. Most of the bigger pharmaceutical companies (like Takeda and Novartis) won't waste further investor funds on pointless research with little likelihood of success.
The ODAC vote was only called/necessary because the hard scientific evidence supporting Remestemcel was so poor. Even then most of the panel expressed doubts and said the evidence was equivocal, but since there were few safety concerns they would give it the benefit of the doubt. That's hardly convincing.
Cell Therapy News/Articles, page-17240
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