Eastview-based Progenics to make FDA request to market constipation treatment
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- March
- 30
Progenics Pharmaceuticals Inc., an Eastview-based biotech research company, and Wyeth Pharmaceuticals, said this morning that Progenics would file an application for U.S. Food and Drug Administration approval to market methylnaltrexone, a drug for the treatment of constipation in patients who have taken certain painkillers.
The companies said the product could be available in vials early next year.
Under the companies’ 2005 agreement, Progenics got $60 million upfront and the possibility of an additional $356.5 million based on achieving certain goals with the drug. Wyeth would also pay Progenics royalties on sales.
Progenics stock closed yesterday at $23.64, down a penny.
This entry was posted
on Friday, March 30th, 2007 at 9:34 am by Allan Drury.
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