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Investing.com-- Vertex Pharmaceuticals Inc (NASDAQ:VRTX) shares jumped in extended trading on Thursday, following the U.S. Food and Drug Administration’s approval of JOURNAVX, the company’s new non-opioid pain medication.
JOURNAVX is an oral, highly selective pain signal inhibitor designed to treat adults experiencing moderate-to-severe acute pain. The drug offers effective pain relief without the addictive potential associated with opioids, addressing a significant need in pain management.
Vertex stock climbed 12.6% to $493.81 on Thursday after the bell.
The FDA’s approval of JOURNAVX is anticipated to have a substantial impact on the company’s financial performance, given the high demand for non-opioid pain treatments.
The FDA granted approval based on results from two late-stage trials demonstrating that the drug significantly reduced surgical pain compared to a placebo.
Acute pain is a serious and potentially disabling condition often caused by surgery, accident or injury.
Over 80 million Americans are prescribed medicine to treat their moderate-to-severe acute pain every year, the company said in a statement.