Shares of Alexza Pharmaceuticals Inc. got increased by 10% when the company revealed that the European Union regulators have approved its drug Adasuve.
The company officials said the panel of European Union regulators has recommended allowing Adasuve for mild to moderate agitation taking place among patients suffering from schizophrenia or bipolar disorder.
It shall also be noted that the regulatory authorities have allowed the drug to be only taken when a person is at hospital so that complete monitoring can be done. Alexza is not alone in the project and is being supported by its partner Grupo Ferrer Internacional.
A lot of hopes have been attached with the drug, as it is the first drug of the company. According to calculations of the company, if the drug gets green signal from the regulators then they will be able to market the product in all 27 EU countries as well as in Iceland and Norway.
Alexza said the drug has a great potential as approximately eight million adults have been suffering from schizophrenia or from bipolar disorder. The decision of the drug will be taken in 2013.
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