BUZZ-Alimera Sciences Inc: FDA approves eye implant

Mon Sep 29, 2014 9:59am EDT
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** Drug developer's shares up 11.5 pct at $5.49

** U.S. FDA, on Friday, approved Alimera's eye implant to treat diabetic macular edema, a condition that causes vision impairment due to swelling of the retina

** Company says implant, Iluvien, expected to be available in the United States in early 2015

** Company licensed implant from pSivida Corp in February 2005. pSivida to receive milestone payment of $25 million following approval

** Up to Friday's close, Alimera stock had gained about 5 pct this year