Drug Approvals Lift Tercica, Novartis

Regulatory action, including the approval of Tercica's(TRCA Quote) acromegaly treatment, enthused biotech investors Friday morning.

Tercica said Friday that the Food and Drug Administration approved partner Ipsen's Somatuline Depot, a long-term treatment for acromegaly, a disorder caused by overproduction of growth hormone.

The drug -- available in a prefilled syringe -- is indicated for patients who don't have the option of or who have an inadequate response to surgery or radiotherapy treatment. The agency also deemed Somatuline an orphan drug for acromegaly, giving Tercica seven years of marketing exclusivity. ...