The FDA has approved a drug made by Cypress Bioscience of San Diego for treating widespread fibromyalgia pain.
Cypress and partner Forest Laboratories made the announcement after markets closed Jan. 14. Shares of Cypress, traded under the symbol CYPB on the Nasdaq, closed up 33 percent at $9.61 the following day.
The drug, Savella, targets fibromyalgia pain, a chronic condition affecting an estimated 6 million people in the United States.
Cypress tested the drug’s safety and efficacy in two studies involving more than 2,000 fibromyalgia patients. The companies said they expect to begin selling Savella in pharmacies by March.
It will compete against Pfizer’s Lyrica and Eli Lilly and Co.’s Cymbalta.
, Heather Chambers
