SLXP gets warning letter for false and misleading ad/promotional materials and they go up???
Salix Pharma (SLXP) Warned by U.S. FDA About Metozolv ODT Ads and Promotional Material
10:14 am ET 03/30/2010- StreetInsider
Salix Pharmaceuticals, Ltd. (SLXP) was warned today, by the U.S. FDA, about an advertisement and promotional material involving a drug used to treat gastroesophageal reflux disease after other treatments fail.
Specifically, the agency sent a warning letter to the company on March 19 about the drug Metozolv ODT, which was approved last September to treat reflux disease as well as diabetic gastroparesis. The letter was posted to the FDA's Web site Tuesday.
The FDA said a journal advertisement, a sales aid and other promotional material were "false or misleading because they omit and minimize risk information, broaden the indication of Metozolv ODT and contain unsubstantiated comparative and other claims."
The agency also said Salix failed to submit some of the materials prior to use or publication to the FDA as regulations require.
Shares of Salix are trading higher early, however, up 2.52% to $36.57.
