Salagen to lead MGI Pharma to profitability

FDA approval last week of MGI Pharma Inc.'s Salagen tablets sets the stage for the company to become profitable within four to six quarters of its anticipated second quarter launch.

MOGN shares finished the week at $13.25, up $1 over the previous week, after the agency approved use of the drug to treat radiation-induced dry mouth (xerostoma) in head and neck cancer patients.