Salix Pharmaceuticals Ltd said the U.S. Food and Drug Administration approved an expanded use of its constipation treatment.The injection, Relistor, has now been approved for use in patients on opioids for chronic pain unrelated to cancer, the company said on Monday.Relistor was first approved in 2008 to treat opioid-induced constipation in severely ill patients who did not respond to laxatives.It will compete with Nektar Therapeutics and AstraZeneca Plc's oral drug Movantik, approved by the FDA earlier this month for the same patient population.
Nektar Therapeutics is a clinical-stage biopharmaceutical company which develops a pipeline of drug candidates that utilize company platforms. Shares of NKTR fell by 0.94% or $-0.12/share to $12.59. In the past year, the shares have traded as low as $8.87 and as high as $15.34. On average, 1217190 shares of NKTR exchange hands on a given day and today's volume is recorded at 1564967.
Salix Pharmaceuticals, Ltd. is a specialty pharmaceutical company dedicated to acquiring, developing and commercializing prescription drugs and medical devices used in the treatment of a variety of gastrointestinal disorders, which are those affecting the digestive tract. Shares of SLXP fell by 3.7% or $-5.99/share to $155.78. In the past year, the shares have traded as low as $65.93 and as high as $172.98. On average, 1600970 shares of SLXP exchange hands on a given day and today's volume is recorded at 2128204.
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