Shares of the California-based company closed 0.68% lower on Friday. (Reporting by Bhanvi Satija, Nandhini Srinivasan and Anirudh Saligrama in Bengaluru; Editing by Shailesh Kuber and William Mallard)
(Corrects share price movement in paragraph 6)
March 10 (Reuters) - The U.S. Food and Drug Administration approved
Acadia Pharmaceuticals Inc's drug for the treatment of Rett syndrome, a
genetic brain disorder, the company said on Friday, making it the first-approved
drug for the condition.
The U.S. health regulator's decision allows use of the drug, to be sold
under the brand name Daybue, in adult and pediatric patients two years of age
and older and comes with a warning of diarrhea and weight loss.
Acadia said it plans to make the drug available to patients by the end of
April. It, however, did not disclose the details of the drug price.
The approval comes months after the regulator declined to approve expanded
use of its drug Nuplazid to treat psychosis related to Alzheimer's disease.
Analysts have said approval of Daybue would help drive growth for the company in
the near term.
Rett's syndrome is a rare neurodevelopmental condition that occurs primarily
in girls. According to government estimates, it affects fewer than 50,000 people
in the U.S.
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