By Razak Musah Baba
The U.S. Food and Drug Administration approved a once-daily
constipation drug from AstraZeneca PLC (AZN, AZN.LN) and Nektar
Therapeutics (NKTR) for adult patients with chronic, non-cancer
pain.
The drug--called Movantik--is expected to be available to
patients in the first half of next year.
"The FDA approval of Movantik provides a new treatment option
for adult patients with chronic non-cancer pain suffering from
opioid-induced constipation, a common side effect of opioid
therapy," said Dr. Briggs Morrison, executive vice president,
global medicines development & chief medical officer,
AstraZeneca.
Movantik was developed using Nektar Therapeutics (NKTR)
technology as part of an exclusive global licensing agreement with
the U.K.-based pharmaceutical company. The companies also have
filed for regulatory approvals in Europe and Canada.
San Francisco-based Nektar said AstraZeneca agreed to conduct a
cardiovascular safety study, which the FDA is requiring after
Movantik's launch. In June, an FDA advisory panel recommended
post-marketing studies for Movantik and other drugs in its
class.
Nektar shares rose 2.8% to $13.91 in recent trading, while
AstraZeneca's American Depositary Receipts slipped 18 cents to
$73.59.
--Tess Stynes contributed to this article.
-Write to Razak Musah Baba at razak.baba@wsj.com
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