The US Food and Drug Administration has named Dr. Vinay Prasad, a hematologist oncologist, to lead its Center for Biologics Evaluation and Research, the division that oversees vaccines and biologic medicines.

In his new role with the FDA, Dr. Vinay Prasad will oversee the regulation of costly drugs, including vaccines, gene therapies, and blood supply.

Key Takeaways Dr. Vinay Prasad has been tasked to head the FDA’s biologics divisionPrasad has criticized the U.S. government's response to COVID-19 His new role has caused biotech stocks to drop more than 5% WEDNESDAY,