FDA approves new cancer drug from Cephalon

WASHINGTON The Food and Drug Administration ahs announced its approval of Cephalon’s new cancer drug, Treanda. This recent approval hopes to raise the company’s shares, which have fallen 29 percent since June, published reports claim.

Treanda, indicated for chronic lymphocytic leukemia, was granted priority review by the FDA. The FDA approval of Treanda will mark the first big step in the oncology department for Cephalon, which normally makes its sales on pain relievers and treatments for central-nervous-system disorders. According to reports, the approval of this drug will bring it close to competing with major drug companies.

The approval of Treanda not only is expected to raise the share price of the company, but will also pave the way for Cephalon to introduce more cancer-related drugs into the market. As a result, shares of Cephalon were up $2.79, or 4.7 percent, to $62.14.