February 16, 2017 / 11:52 AM / in 7 months

BUZZ-Valeant Pharmaceuticals: Edges up after FDA approves plaque psoriasis drug

** Canadian drugmaker’s U.S.-listed shares up 2.6 pct to $17.30 premarket

** U.S. FDA approves Valeant’s injectable drug, Siliq, to treat adults with moderate-to-severe plaque psoriasis

** Siliq carries a boxed warning - the severest warning from FDA - to mitigate the risk of suicide (bit.ly/2l9Da9c)

** Siliq works by blocking protein that causes inflammation, which is believed to play a role in development of autoimmune disorder characterized by red skin and thick, unsightly, scaly white patches

** Up to Wednesday’s close, stock had fallen about 81 pct in past 12 months

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