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What: Shares of drug company Salix Pharmaceuticals
So what: In a relatively terse press release on Friday, Salix and drug developer Progenics Pharmaceuticals
Now what: In some views, the concern over the FDA's response letter goes beyond the expanded-use issue at hand. The companies are also attempting to get an oral version of Relistor -- currently a subcutaneous treatment -- approved. Retuers quoted Cantor Fitzgerald analyst Irina Rivkind, who said, "We believe that the FDA's concerns on the subcutaneous form could also taint oral Relistor."
Of course while Salix investors are feeling some pain today, Progenics shareholders are seriously taking it on the chin as that company's shares were roughly halved in the wake of the news.
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Fool contributor Matt Koppenheffer does not have a financial interest in any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or Facebook. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.