Boston, MA 07\/01\/2014 (wallstreetpr) \u2013 Allergan, Inc. (NYSE:AGN)<\/b> plans to meet the Food and Drug Administration to discuss the way forward for its rejected treatment known as Levadex or Semprana. The drug is being offered as a migraine inhaler. However, the regulator refused to approve the treatment citing a problem with the delivery device of the drug.<\/p>\n
According to the company officials, they expect to get an answer from FDA later this month after meeting the regulator to discuss Levadex.<\/p>\n
On the other hand, FDA approved Orzurdex, which is a treatment for diabetic macular edema. The condition can lead to loss of vision of even blindness in people with diabetes.<\/p>\n
Rich pipeline<\/b><\/p>\n
In addition to Levadex\/Semprana and Orzurdex, Allergan, Inc. (NYSE:AGN) also has a rich product pipeline of which it plans Phase 3 study for two of its experimental drugs. One of the experimental drugs is a treatment for macular degeneration related to age, which can cause vision loss. The drug is expected to enter the last of the three clinical trial stages required FDA.<\/p>\n
The company has a glaucoma treatment that is expected to enter the final trial stage by the end of this year.<\/p>\n
Resist takeover<\/b><\/p>\n
Owing to its rich product pipeline and the fact that the company has a brighter future in its present structure, Allergan, Inc. (NYSE:AGN) is resisting a takeover bid from Valeant Pharmaceuticals Intl Inc (NYSE:VRX)<\/b>, which has offered to purchase it for $54 billion. Valeant (NYSE:VRX) has already improved its bid twice as it seeks to become among the world\u2019s largest drug companies.<\/p>\n
Valeant (NYSE:VRX) joined forces with Bill Ackman, whose Pershing Square Capital owns 9.7 percent in Allergan, to push forward a deal for the company.<\/p>\n
According to analysts at Sterne Agee & Leach Inc, the approval of Levadex would be an important milestone for Allergan, Inc. (NYSE:AGN) in validating its rejection for Valeant takeover bid. In rejecting buyout offers, the company is making a point to investors that it is better off alone.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 07\/01\/2014 (wallstreetpr) \u2013 Allergan, Inc. (NYSE:AGN) plans to meet the Food and Drug Administration to discuss the way forward for its rejected treatment […]<\/p>\n","protected":false},"author":2,"featured_media":19760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[6035,6036,2046,2045],"stock_ticker":[],"class_list":["post-26949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-allergan-inc-nyseagn","tag-nyseagn","tag-nysevrx","tag-valeant-pharmaceuticals-intl-inc-nysevrx","entry"],"acf":[],"yoast_head":"\n