FDA approves Indevus' Sanctura

Indevus Pharmaceuticals announced Friday that the FDA has granted approval of Sanctura (trospium chloride) for the treatment of overactive bladder, news sources report.

Sanctura will be co-promoted by Odyssey Pharmaceuticals, a specialty subsidiary of Pliva. The launch is scheduled for the third quarter of this year, sources say. Pliva paid Indevus $30 million upfront and agreed to pay $120 million upon FDA approval of Sanctura. The market for overactive bladder therapies is estimated to be worth $1.1 billion in 2004.

Indevus' shares rose 5.7 percent to $8.90 in early afternoon trading. Pliva is based in Zagreb, Croatia.

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