San Diego-based Zogenix Inc. won Food and Drug Administration approval for its extended release version of hydrocodone, a narcotic painkiller, despite disapproval from an advisory committee which cited addiction concerns.
The drug, called Zohydro ER, will be classified a Schedule II controlled substance — the most regulated and restricted form of prescription medications, because of its abuse potential. It can only be prescribed when all other forms of pain management medication have been found inadequate, the company said in a release.
Stock skyrocketed for the small pharmaceutical company following the announcement, up 36 percent to close at $3.04 on Oct. 25.
— Meghana Keshavan