FDA approves Pfizer's Litfulo for severe alopecia areata in teens and adults.

The FDA has approved the first and only medication for severe alopecia areata, or at least 50% hair loss, for Americans under 18. The once-daily pill called Litfulo, created by Pfizer, has shown to be effective in regaining hair coverage on the scalp. The approval will help substantiate alopecia areata as more than just something that’s cosmetic, which has been considered that for years by insurers who may not want to cover the therapies. A full year's supply has a list price of $49,000, according to Pfizer.