Valeant Pharmaceuticals International Inc. (VRX, VRX.T) and Progenics Pharmaceuticals Inc. (PGNX) said late Tuesday the Food and Drug Administration approved their drug Relistor to treat opioid-induced constipation.

Valeant shares rose 3.4% to $24.35 after hours, while Progenics shares jumped 17% to $5.80.

Progenics licenses Relistor to Valeant, which plans to start marketing the drug in the U.S. in the third quarter.

Earlier Tuesday, Valeant said an FDA panel it licenses from AstraZeneca.

-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

July 19, 2016 19:04 ET (23:04 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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