30th Sep 2014 17:31
LONDON (Alliance News) - Hikma Pharmaceuticals PLC Tuesday said it was granted approval by the US Food and Drug Administration for its colchicine 0.6mg capsules for prophylaxis of gout flares in adults.
The pharmaceuticals company said it will now market its colchicine drug under the brand name Mitigare.
"This approval demonstrates our strong regulatory capabilities and the successful execution of our strategy to develop a more differentiated product portfolio for the US market," said Chairman and Chief Executive Said Darwazah in a statement.
According to IMS Health, sales of colchicine in the US market were approximately USD688 million for the 12 months ended August 2014, Hikma said in its statement Tuesday.
Hikma shares ended 0.6% higher at 1,635.00 pence Tuesday. News of the FDA approval for Colchicine capsules came after the market close.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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