UPDATE 1-King Pharma resubmits abuse-proof pain drug application
* Cos resubmit marketing application for painkiller Remoxy
* Resubmission to be reviewed in six months
Dec 27 (Reuters) - King Pharmaceuticals Inc KG.N and Pain Therapeutics Inc (PTIE.O) said a resubmission of the marketing application for their abuse-resistant painkiller has been accepted by U.S. regulators and will be reviewed within six months.
The drug, Remoxy, is a long-acting version of the potent oxycodone painkiller. The experimental drug is designed to thwart potential abuse.
Bristol, Tennessee-based King Pharmaceuticals is counting on Remoxy to help it become a leader in the field of abuse-resistant painkillers.
In October, Pfizer Inc (PFE.N), the world's largest drugmaker, agreed to buy King Pharmaceuticals for $3.6 billion. [ID:nN12164348]
Shares of King Pharmaceuticals closed at $14.07 Thursday on the New York Stock Exchange and shares of Pain Therapeutics closed at $6.48 Thursday on Nasdaq. (Reporting by Rajarshi Basu in Bangalore; Editing by Joyjeet Das)
- Tweet this
- Share this
- Digg this