BRIEF—Health Canada approves Tavalisse

Shares of US Biotech Rigel Pharmaceuticals edged up 1.5% to $2.79 after, along with partner Medison Pharma, it today announced that Health Canada has approved the new drug submission (NDS) for Tavalisse (fostamatinib disodium hexahydrate) for the treatment of thrombocytopenia in adult patients with chronic immune thrombocytopenia (ITP) who have had an insufficient response to other treatments.

"This approval of Tavalisse provides ITP patients and physicians in Canada with a new oral treatment option, the only therapy to address the underlying platelet destruction that causes ITP," said Raul Rodriguez, Rigel's president and chief executive.

"With Medison as our collaborative partner, we believe Tavalisse is well positioned for commercial success in the Canadian market," he added.

In October 2019, Rigel entered into exclusive license agreements with Medison to commercialize Tavalisse in Canada and Israel.

With the approval from Health Canada, Medison intends to launch Tavalisse in Canada in first-quarter 2021.

In Israel, a decision on the new drug application (NDA) is anticipated during second-quarter 2021.