Sciele Pharma receives FDA approval for Sular formulation
Shares of Sciele Pharma, Inc. (Nasdaq: SCRX) are advancing this morning after the pharmaceutical company reported late Wednesday evening that the U.S. Food & Drug Administration has approved four dosage strengths of Sular formulation, a high blood pressure treatment.
The new Sular formulation, which uses SkyePharma's (LSE: SKP) patented GEOMATRIX technology, provides a lower dose of Sular for each of its current doses.
The company said it expects to launch the new Sular formulation during the first quarter of 2008.
Shares of Sciele Pharma (SCRX) jumped 18.45%, or $3.66, to $23.50 in pre-market. Shares of Sciele Pharma have been trading in the range of $19.70 to $28.83 for the past 52 weeks.
