John Holaday

Investors Dump QRxPharma after Painkiller Rejected by U.S. FDA Panel

Investors Dump QRxPharma after Painkiller Rejected by U.S. Panel

Australian pharmaceutical major QRxPharma Limited stock plunged nearly 80% after the U.S. regulatory panel voted against the painkiller Moxduo. The stock went down from 70 cents to 13 cents, marking the worst day for the stock since its initial offer in 2007.

Moxduo is a strong painkiller suggested for intense pain and combines two opiods. Moxduo, the drug that combines morphine and oxycodone, failed to receive FDA backing.

The FDA panel unanimously voted against Moxduo. FDA panel added that the drug has not been proved safer compared to other options.

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