November 22, 2010 / 4:14 PM / 8 years ago

Cornerstone Therapeutics to withdraw three painkillers

* Says drugs sold for $8 mln this year till Sept. 30

* Shares fall 8 pct

Nov 22 (Reuters) - Cornerstone Therapeutics CRTX.O said it will withdraw three painkillers containing propoxyphene after U.S. regulators received data that showed the drug puts patients at risk of serious or even fatal heart rhythm abnormalities.

The Food and Drug Administration had asked generic drugmakers to withdraw propoxyphene-containing products after Xanodyne Pharmaceuticals Inc XANO.O withdrew its pain drugs on Friday.

The Cary, North Carolina-based Cornerstone will withdraw Balacet and two other generic drugs, which raked in $8 million revenue for the nine months ended Sept. 30.

“Balacet 325 and the other propoxyphene generics are non-strategic products for Cornerstone,” Chief Executive Craig Collard said in a statement.

The company shares, which have fallen 1 percent since they reported third-quarter results on Nov. 3, were down 5 percent at $5.97 on Monday on Nasdaq. They earlier touched a low of $5.76. (Reporting by Anand Basu in Bangalore; Editing by Don Sebastian)

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