Eagle Pharma nabs FDA OK for hyperthermia drug

Eagle Pharmaceuticals ($EGRX) has nabbed an FDA approval for its new-and-improved formulation of dantrolene sodium, which will be sold as Ryanodex, for potentially lethal cases of malignant hyperthermia. The Woodcliff Lake, NJ-based developer says it will learn within the next two months if it will be granted 7 years of market exclusivity for the orphan product. This drug upgrade is designed for easier use to treat the condition, which can be triggered by anesthesia. The approval triggered a surge in the biotech's stock price Wednesday morning. "This significant milestone exemplifies our strategy of developing innovative products and we plan to ship the product in the very near future," said Eagle CEO Scott Tarriff. Release