FDA layoffs could cripple agency, former FDA commissioners say

By purging FDA senior leadership, firing thousands of administrators and managers and creating a toxic work environment for those who remain, the Trump administration has crippled its ability to review medical products and protect the American public, former agency leaders said Tuesday.

It is unclear whether FDA Commissioner Marty Makary, HHS Secretary Robert F. Kennedy Jr., or White House officials were fully aware of the negative effects of the cuts. The XBI sank nearly 4% to $78.16 Tuesday; the closely watched ETF has lost more than 7% since Makary ousted Peter Marks, the director of the Center for Biologics Evaluation and Research, late Friday, pushing biotech back into a bear market...