Progenics Pharmaceuticals gets nods from Australian Government for RELISTOR

ProgenicsNew-York based Progenics Pharmaceuticals, Inc. has informed that it has received approval for registration of RELISTOR(R) (methylnaltrexone bromide 12mg/0.6ml solution for injection) from the Therapeutic Goods Administration (TGA) division of the Australian Government.

The drug is indicated for the treatment of opioid-induced constipation (OIC) in patients with advanced illness who are receiving palliative care when response to laxative therapy has not been sufficient.

Progenics, in collaboration with Wyeth, is developing RELISTOR for the treatment of opioid-induced side effects.

Wyeth has worldwide rights to commercialize all forms of RELISTOR, except in Japan, where Progenics has granted Ono Pharmaceutical Co., Ltd. an exclusive license to the subcutaneous form of RELISTOR for development and commercialization in that country.

Progenics Pharmaceuticals, Inc., a biopharmaceutical company, engages in the development and commercialization of therapeutic products to treat debilitating conditions and life-threatening diseases in the United States and internationally.

The scrip of the company is presently ruling at $ 9.70, up 2% compared to its previous close of $ 9.53. (Monday)