FDA rejects Valeant's Vesneo

Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) received an FDA complete response letter for Vesneo latanoprostene bunod to treat open-angle glaucoma or intraocular pressure. Nicox S.A. (Euronext:COX), which has co-promotion rights to the candidate, fell EUR 1.08 to EUR 11.58 on the news.

Valeant said FDA's concerns arose following an inspection of a U.S. manufacturing facility and were not related to safety or efficacy. The company plans to meet with FDA to resolve the issue. ...