Viatris Inc. VTRS and Ocuphire Pharma Inc. OCUP said Wednesday that the U.S. Food and Drug Administration has approved Ryzumvi to treat the side effects of pharmacologically-induced mydriasis, or dilation of pupils.
About 100 million eye dilations are conducted in the U.S. each year to examine the retina and for other routine check-ups, the companies said in a release, but the dilation can last up to 24 hours and side effects include light sensitivity and blurred vision. Ryzumvi is expected to be commercially available in the U.S. in the first half of next year, the companies said. Ocuphire shares gained 10.7% premarket on Wednesday and have climbed 13.9% in the year to date, Viatris shares were down slightly premarket and have dropped 12.7% in the year to date.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
SOURCE: MarketWatch.com – MarketPulse