Raptor's PROCYSBI gets EU marketing authorization

It's "sell the news" time for Raptor Pharmaceuticals (RPTP -0.9%) apparently, as the shares trade lower after the European Commission approves PROCYSBI as an orphan medicinal product for the treatment of nephropathic cystinosis.

The drug got a positive CHMP opinion back in June (which usually bodes well for an EC nod) and was approved by the FDA in April.

The aforementioned orphan medicinal product designation gives PROCYSBI 10 years of market exclusivity. (PR)

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