Able Labs Gains From Generic Lortab Approval
The stock adds 8% after the FDA supports the company's new drug application.
Able Laboratories
(ABRX)
said the Food and Drug Administration approved the company's abbreviated new drug application for a generic version of Lortab, a treatment for moderate to moderately severe pain.
Word that the agency had approved the formulation, consisting of hydrocodone bitartrate and acetaminophen tablets, lifted shares of Able $1.29, or 8%, to $17.55.
Since March 2001, Able, a maker of generic pharmaceuticals, has received 29 abbreviated new drug application approvals. The total market for Able's newly approved drug is estimated at about $230 million, the company said in a press release.
Loading ...