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Wednesday, May 22, 2024
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Santarus Stock Climbs Slightly After Submitting Drug Marketing Application to FDA

Company stock rose marginally after San Diego-based Santarus Inc. announced it submitted an application to the U.S. Food and Drug Administration for the marketing approval of its drug Ruconest.

At market close the company’s shares were trading at $18.98 a share – a 1.7 percent increase. The publicly traded Santarus has a market capitalization of $1.2 billion.

Ruconest, which treats a genetic disorder called acute angioedema, is already approved in Europe. It has been granted orphan drug status, which speeds up the review process by the FDA.

Angioedema causes the intense and rapid swelling of various body parts, and affects about one in 10,000 individuals.

— Meghana Keshavan

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