FDA hands out its third rejection for Allergan's migraine drug Semprana

June 30, 2014 3:24 PM

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The FDA has handed out its third rejection of a new, inhalable migraine therapy Allergan ($AGN) had hoped could be used to help fend off Valeant's ($VRX) buyout bid. The big biotech did get some good news, though, announcing that the agency approved Ozurdex for diabetic macular degeneration.

In an R&D update out this morning Allergan--best known for its wrinkle-remover Botox--put out the word that regulators had once again turned their thumbs down on Semprana, formerly known as Levadex. The drug had already been rejected by the FDA before Allergan acquired the migraine therapy in the bi...

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