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MrWhy.com » Videos » FDA Rejects Pfizer Pain Drug, Partners Pain Therapeutics and |
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FDA Rejects Pfizer Pain Drug, Partners Pain Therapeutics and
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FDA Rejects Pfizer Pain Drug, Partners Pain Therapeutics and
The Food and Drug Administration has rejected a pain drug that is designed to discourage abuse, Pfizer (NYSE:PFE) and Pain Therapeutics (NASDAS:PTIE) announced today. The New York City-based Pfizer said the FDA has asked for more information about its pain drug, called Remoxy. In May, the company said approval could be delayed because of issues in the manufacturing section of the application, but it did not say today whether or not that was the reason for today’s decision. Shares of Pfizer's partners on Remoxy plummeted on the news. Pain Therapeutics is trading down 42% at $5.35 per share, while Durect Corp is trading down 27% at $2.24 per share. Shares of Pfizer are trading down 1.25% at $20.39.
Video Length: 0
Date Found: June 24, 2011
Date Produced: June 24, 2011
View Count: 0
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