Healthcare Business Roundup: Depomed Sues the FDA, Abbott Gets Orphan Designation In EU
Depomed, Inc. (NASDAQ:DEPO) brings a suit in a Washington, D.C. federal court, seeking an order to require that the FDA grant market exclusivity for Gralise, its medication for post-herpetic neuralgia, under the orphan-drug designation. Previously, the drug received an orphan drug designation in November 2010, which was approved in January 2011.
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Forest Laboratories, Inc. (NYSE:FRX) is hearing Street chatter that it could be the most likely acquisition target by AstraZeneca Group (NYSE:AZN). The latter is getting a new chief executive, and the firm is also nearing a steep patent cliff, so a purchase might be just the thing. Leerink Swann points out that AstraZeneca has the cash, and Forest enjoys one of the best pipeline hit rates anywhere and also is spending deeply on research and development.
Abbott Laboratories (NYSE:ABT) announces that its humanised monoclonal antibody for the treatment of glioma has been granted orphan designation by the European Commission. Glioma affects around 1 in 10,000 people in the EU, which is the equivalent of a total of approximately51,000 persons.
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