Valeant said in a press release that it will commence sales of the new drug in the United States during the third quarter of 2016. Did you like this article? Could it have been improved? Please email feedback@benzinga.com with the story link to let us know!
Neil Maruoka of Canaccord Genuity commented in a research note on Wednesday that the FDA's approval of Relistor should be viewed as an "incremental positive" and a "small degree of vindication" for Valeant's R&D-lite model.
CNBC's Jim Cramer had a different take of the drug approval.
During Cramer's daily "The Mad Dash" segment, he said that Valeant's CEO Joseph Papa "should be smiling" between the FDA's approval of Relistor and a separate FDA advisory committee's recommendation for the approval of Brodalumab for treatment of moderate-to-severe plaque psoriasis.
Cramer continued that these new drugs could give Valeant up to $1.5 billion in potential sales.
"You have negative news, negative news, negative news," Cramer said. "But you know what — if there is going to be a savior for Valeant — it is going to be new drugs."
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