ICN Granted Exclusive Sales of Leukemia Drug
ICN Pharmaceuticals Inc. said Tuesday that Tiazole, its drug for treating a type of leukemia, was granted orphan-drug status by U.S. federal regulators, providing seven years of marketing exclusivity after approval.
Orphan-drug designation is granted for rare diseases or conditions that affect fewer than 200,000 people in the United States.
Costa Mesa-based ICN said Tiazole, or tiazofurin, is for the treatment of chronic myelogenous leukemia. At present, the disease is not curable by conventional chemotherapy or immunotherapy.
The drug is in clinical trials. Upon successful completion of studies and tests, ICN intends to file a new drug application with the U.S. Food and Drug Administration.
ICN’s stock rose $1.19 a share to $28.94 on the New York Stock Exchange.
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