Abortion pill ruling could be "catastrophic" for new drug development

The Supreme Court today will hear a challenge to the FDA's approval of mifepristone, a medicine used to help induce abortions.

Why it matters: Were SCOTUS to rule in favor of mifepristone's opponents, it could chill future biotech investment for almost every medical indication.

Zoom out: The core question in the case is over whether the FDA has sole discretion to determine a drug's efficacy and safety, or if courts also can play a role.

The former is how biotech has traditionally operated. It's not cheap, but at least the...