October 08, 2014 4:51 PM
Raleigh-based Salix Pharmaceuticals reported that its new treatment for ulcerative colitis has received final approval from the Food and Drug Administration.
The approval, which Salix announced Wednesday, clears the way for the company to launch its drug Uceris before the end of the year.
Uceris received tentative approval from the FDA on Sept. 15. Salix announced at that time that it expected to resolve outstanding patent issues necessary for final approval.
As many as 700,000 Americans suffer from ulcerative colitis, according to Salix.
Shares of Salix, which focuses on drugs for gastrointestinal ailments, closed at $144 Wednesday, up 8 cents.
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