Valeant slammed on FDA, earnings

Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) fell C$5.59 (22%) to C$19.92 in Toronto on Tuesday, and lost $4.15 (22%) to $14.98 in New York after disclosing FDA has extended by three months its review of brodalumab (KHK4827) for psoriasis and issuing disappointing earnings news.

Brodalumab, a mAb against IL-17 receptor (IL17R; IL17RA), is under review to treat moderate to severe plaque psoriasis. Its new PDUFA date is Feb. 16, 2017...