Sarepta Wins Approval for Duchenne Drug After Long FDA Review

September 19, 2016 2:16 PM

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Sarepta Therapeutics Inc. won U.S. approval for its drug to treat Duchenne muscular dystrophy, a victory for young patients with a form of the deadly muscle disease and their parents who were devastated in April when a panel of outside advisers recommended against clearing the product.

Sarepta shares surged 75 percent to $49.28 at 10:04 a.m. in New York, the biggest intraday gain since October 2012. The gain gives Cambridge, Massachusetts-based Sarepta a market value of about $2.4 billion, and the positive news could make it a much more appetizing -- and expensive -- takeover targ...

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