Shares of Inspire Pharmaceuticals jumped more than 20 percent this morning when the company announced that the FDA had approved Azasite 1 percent for bacterial conjunctivitis. Inspire says the approval for eye infection paves the way for up to $45 million in new sales revenue next year.
"This unique formulation of the well-known, broad-spectrum antibiotic azithromycin results in a convenient topical dosing regimen requiring less than half the number of drops for effective treatment compared to currently available products," said Terrence P. O'Brien, M.D., professor of ophthalmology at the University of Miami. "These attributes are particularly important when treating young children and busy adults."
- see this release on the approval
- here's the AP report for more
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