Progenics’ and Salix’s Pain On OIC Rejection Could Benefit Sucampo

Partners Salix Pharmaceuticals (NASDAQ:SLXP) and Progenics Pharmaceuticals (NASDAQ:PGNX) are trading sharply lower today as the FDA did not grant approval of their application for Relistor as a treatment for opioid induced constipation (OIC). The FDA requested additional clinical data, likely meaning that the companies need to conduct new trials to support the application. Salix and Progenics noted that they still need to meet with regulators to determine what is needed for a possible approval in the future, so in this case, no news on a resubmission is bad news. (more…)