Narcolepsy, also known as dyssomnia is a chronic sleeping disorder in which a person experiences excessive daytime sleepiness as well as extreme fatigue. The news associated to this is about Jazz pharmaceutical which was downgraded by Jefferies & Co., on Tuesday on the behalf of this fact that the company will give up attempts to get expanded regulatory approval for a drug named Xyrem.
Actually, on Monday of this passing week, the food and drug Administration revealed that without additional clinical trials it would not appropriate to approve the use of this drug Xyrem for the treatment of fibromyalgia. Fibromyalgia is also a chronic disease that cause muscle pain and fatigue. Currently, this drug Xyrem is used to treat Narcolepsy.
Corey Davis, an analyst told that the company will not decide to run the additional clinical trials because theyll try their best to win the approval. Davis further informed that Xyrem is used for the treatment of fibromyalgia and this drug costs about $20,000 per year for each patient. The main ingredient used in Xyrem is sodium oxybate, which is also called GHB.
FDA, Food and Drug Administration decided to reveal this fact because there were so many questions regarding the safety of the drug as on distribution from 6 million to 12 million Americans who have fibromyalgia.
Lets talk about Jazz pharmaceuticals shares which according to report on Monday rose to 4%.