Eagle Pharma rises on FDA's expanded approval for lung cancer drug

Eagle Pharmaceuticals

19/12/2022 17:39

** Shares of drugmaker Eagle Pharmaceuticals Inc  EGRX.O 
rise 2.5% to $30.06
    ** U.S. Food and Drug Administration approves EGRX's drug
Pemfexy in combination use for initial treatment of patients
with a type of lung cancer 
    ** The new indication is for non-squamous, non-small cell
lung cancer with no mutations in EGFR or ALK protein, which is
considered less likely to respond to a targeted drug therapy
    ** The drug is in form of a ready-to-dilute injection
formulation, developed to eliminate the reconstitution step of
Eli Lilly's  LLY.N  listed drug Alimta
    ** EGRX received FDA nod to market Pemfexy last year,
following settlement of patent litigation with Lilly in 2019 
    ** Pemfexy is now approved for all of the same indications
as Alimta, and it allows a key advantage of skipping the
reconstitution step - EGRX
    ** Stock down 41% YTD
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))