trending Market Intelligence /marketintelligence/en/news-insights/trending/jfvmqxcpjgflg0qftqi47w2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Valeant stock falls after US FDA rejects plaque psoriasis therapy

COVID-19 Pandemic Likely To Cause US Telemedicine Boom

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

Valeant stock falls after US FDA rejects plaque psoriasis therapy

Valeant Pharmaceuticals International Inc.'s stock fell after its plaque psoriasis therapy Duobrii was not approved by the U.S. Food and Drug Administration.

The company's stock was down 12.36% to $23.54 as of 3:59 p.m. ET on June 18.

Valeant's unit Ortho Dermatologics said the U.S. regulator's complete response letter for Duobrii did not specify any deficiencies related to the clinical efficacy or safety of the lotion being sought as a treatment for the skin disease.

The company said the letter only noted questions about data relating to the drug's absorption in the body. Valeant's CEO Joseph Papa said the company is working to resolve the matter quickly and has requested a meeting with the FDA.

Valeant submitted an application in November 2017 to seek approval for the drug from the U.S. regulator.