BUZZ-Valeant Pharma: FDA panel backs psoriasis drug with conditions

Wed Jul 20, 2016 10:09am EDT
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** Embattled Canadian drugmaker's U.S-listed shares up 3.5 pct at $24.37; Toronto-listed shares up about 5 pct at C$32.14

** Company's experimental psoriasis drug could be approved as long as certain measures are put in place to mitigate the risk of suicide, an advisory committee to the U.S. FDA said on Tuesday

** Separately, company and partner Progenics Pharmaceuticals Inc's opioid-induced constipation drug, Relistor, approved by FDA in tablet form

** Injectable Relistor already available in the U.S. market

** Progenics shares jumped about 26 percent in early trading

** Up to Tuesday's close, Valeant's stock had fallen about 77 pct this year