UPDATE 1-AcelRx stock plunges after FDA rejects pain drug device

July 28, 2014 5:56 PM

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July 28 (Reuters) - Shares of AcelRx Pharmaceuticals Inc plunged almost 40 percent after the U.S. Food and Drug Administration rejected its pain treatment late on Friday.

The rejection also reduces the lead the drug device, Zalviso, was likely to have over a rival from Medicines Company , which was submitted for approval in late June.

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