UPDATE 1-FDA approves injection for "double chin" reduction

Wed Apr 29, 2015 1:40pm EDT
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April 29 (Reuters) - The U.S. Food and Drug Administration said on Wednesday it approved an injection for "double chin" reduction, developed by Kythera Biopharmaceuticals Inc.

The drug, Kybella, is a formulation of synthetically-derived deoxycholic acid, which destroys fat under the chin, leaving surrounding tissue largely unaffected. (1.usa.gov/1dtjkkj)

Other injectables such as Allergan Inc's Botox and other dermal fillers are typically used to smoothen areas of the face.

Fat removal involves more radical procedures - limited to surgeries performed under general anesthesia and liposuction - and higher costs.

Submental, or below the chin, liposuction costs between $2,700 and $5,175, according to the American Society for Dermatologic Surgery.

Kythera has not revealed its pricing plans for the injection.

The approval follows the unanimous backing of an independent panel of experts to the FDA in March.

Last year, Kythera regained the rights to market the drug outside the United States and Canada from a unit of Germany's Bayer AG.

Westlake Village, California-based Kythera's stock, which has risen about 37 percent this year, was marginally down at $47.45 in afternoon trading on the Nasdaq on Wednesday. (Reporting by Natalie Grover in Bengaluru; Editing by Saumyadeb Chakrabarty and Maju Samuel)