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Photo: Michael Jacobs/Art in All of Us/Corbis via Getty Images

A vast majority of experts on a federal allergy panel said a new treatment to minimize reactions to peanut allergies is safe and effective, which may signal possible FDA approval of the drug in January.

Why it matters: The treatment, made by Aimmune Therapeutics and sold under the brand name Palforzia, could provide relief to parents worried about their kids getting an anaphylactic reaction from peanut exposure. 

Yes, but: Palforzia comes with a lot of question marks.

  • Patients and their caregivers still must carry an injectable epinephrine. The pill doesn't replace an EpiPen, and in fact epinephrine use increased with the drug.
  • Palforzia's price will be between $3,000 and $20,000 annually. It’s unclear what rebates would look like, but that’s not a small amount.
  • The drug is essentially peanut flour in a capsule, and James Hamblin asks in The Atlantic why peanut powder can't be sold as a cheaper supplement instead.

The bottom line: The first immunotherapy for peanut allergies could be close to hitting the market next year, despite concerns of how well it works, and more therapies are being developed.

Go deeper: Food allergies more common among adults in the U.S.

Go deeper

Janet Yellen confirmed as Treasury secretary

Janet Yellen. Photo: Alex Wong/Getty Images

The Senate voted 84-15 to confirm Janet Yellen as Treasury secretary on Monday.

Why it matters: Yellen is the first woman to serve as Treasury secretary, a Cabinet position that will be crucial in helping steer the country out of the pandemic-induced economic crisis.

Dan Primack, author of Pro Rata
3 hours ago - Economy & Business

Scoop: Red Sox strike out on deal to go public

Illustration: Sarah Grillo/Axios

The parent company of the Boston Red Sox and Liverpool F.C. has ended talks to sell a minority ownership stake to RedBall Acquisition, a SPAC formed by longtime baseball executive Billy Beane and investor Gerry Cardinale, Axios has learned from multiple sources. An alternative investment, structured more like private equity, remains possible.

Why it matters: Red Sox fans won't be able to buy stock in the team any time soon.

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