Health Canada announced today that it has stopped all sales of Novartis Pharmaceuticals Canada Inc.'s sale of the anti-inflammatory drug, Prexige.
The cancellation of market authorization comes due to the risk of liver related illness such as hepatitis. Health Canada based their decision on 4 cases internationally including 2 in Canada.
Canada joins Australia, as was previously reported, who pulled approval of the drug in mid-September.
Prexige (lumiracoxib), a Cox-3 selective inhibitor non-steroidal anti-inflammatory drug, has been marketed by Novartis (NYSE:NVS) in Canada since November 2006 for adults with symptoms of osteoarthritis.
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Wednesday Moody's Investor Services downgrades the pharmaceutical sector's outlook from "stable" to "Negative" for the next twelve months.Citing a tough regulatory climate, lagging pipelines and upcoming patent expirations, ... [Read More]
Tracked on: October 12, 2007 11:51 AM | Permalink to Trackback