RedHill Biopharma Shares Double on FDA's 5-Year Market Exclusivity Grant
By Dean Seal
Shares of RedHill Biopharma more than doubled after federal regulators granted the company five years of market exclusivity for its bacterial-infection medication Talicia.
The stock opened at 70 cents after closing the market on Friday at 32 cents. Shares are still down about 87% since the start of the year.
The specialty biopharmaceutical company said Monday morning that the Food and Drug Administration has granted the exclusivity period for Talicia under the Generating Antibiotic Incentives Now Act's Qualified Infectious Disease Product designation, following a recommendation by the agency's exclusivity board.
Talicia, which is used to treat Helicobacter pylori infection, is protected by its broad intellectual property suite through 2034.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
November 27, 2023 09:53 ET (14:53 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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