FDA delays approval of Remoxy painkiller

NEW YORK The Food and Drug Administration announced that it needed more clinical studies of the pain pill Remoxy before it would approve it.

The pill, a formulation of oxycodone by King Pharmaceuticals and Pain Therapeutics, is designed in a capsule form that prevents abuse by people trying to get high.

On Wednesday, King Pharmaceuticals’ shares were down by 83 cents, at $9.13, and Pain Therapeutics were down by $1.82, at $5.93.