Schering-Plough Gains on FDA Move

Schering-Plough ( SGP) shares gained Tuesday as the drugmaker said the Food and Drug administration has agreed to review its new drug application for its treatment of invasive fungal infection.

The New Jersey-based company said its posaconazole oral suspension is a new chemical entity that exhibits potent antifungal activity in vitro against a wide range of fungal pathogens, including both yeasts and molds.

"Posaconazole provides an oral therapy option for these serious infections caused by a variety of fungal organisms, including those resistant to other drugs," the company said in a statement.

Invasive fungal infections most often occur in severely immunocompromised patients, such as organ transplant patients or cancer patients undergoing chemotherapy.

Schering also plans to file a similar new drug application with European regulators.

Shares rose 35 cents, or 2%, to $17.90 in premarket trading.

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