Shares in Canadian drugmaker Valeant (TSX: VRX) took an upturn on Wednesday with the news that a US Food and Drug Administration advisory committee had voted unanimously in favor of approving Siliq (brodalumab) for adult patients with moderate-to-severe plaque psoriasis.
Valeant has had a miserable year, with allegations of unfair price hiking and 90% wiped off its share value since July 20, 2015, but its new chief executive Joseph Papa has promised a recovery, and the news on Siliq is a welcome boost.
A report presented to the FDA committee by agency staff had raised a few concerns about the treatment in relation to a potential link to suicidal behavior and major cardiovascular adverse events.
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