Valeant says FDA denies approval to nail infection drug

Tue May 28, 2013 7:45am EDT

May 28 (Reuters) - Canada drugmaker Valeant Pharmaceuticals International said on Tuesday that the U.S. Food and Drug Administration denied approval for its drug to treat onychomycosis, a fungal infection of the nail.

The U.S. health regulator raised questions about manufacturing and controls related to the drug's container in a complete response letter to the company.

Valeant said the FDA did not raise any questions regarding the efficacy or safety of the drug efinaconazole.

The company said it was working on a timely response to the FDA.

Onychomycosis causes nails to deform, discolor, thicken, become brittle and split and separate from the nail bed.

Quebec-based Valeant said on Monday it would buy Bausch & Lomb Holdings Inc from Warburg Pincus LLC for $8.7 billion, a deal set to vault the Canadian company into the upper ranks of the global pharmaceutical sector.

Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.