Indevus Soars on FDA, Teva Deal News (Update)

Updated from 10:47 a.m. EDT Indevus (IDEV Quote) shares surged early Friday on a positive regulatory update on one product and a new partnership deal for another.

The specialty pharmaceutical firm has reached with the Food and Drug Administration and will now resubmit its application for its testosterone replacement therapy Nebido sooner than expected. Separately, Indevus said it signed an agreement with Teva Pharmaceutical (TEVA Quote) for its pagoclone for the treatment of stuttering.

Shares of the Lexington, Mass.-based company were rising $1.50, or 86.7%, to $3.23 in recent midday trading.

Indevus said in June that the FDA would withhold approval and would require additional safety data on Nebido, a long-acting injectable testosterone. ...