by Christopher Freeburn | February 25, 2013 12:41 pm
Shares of Affymax (NASDAQ:AFFY) plunged more than 85% in Monday midday trading after the company announced a recall of its anemia drug.
The company and its Japanese partner Takeda Pharmaceutical (PINK:TKPYY), voluntarily pulled the drug after reports indicated that 0.02% of 25,000 patients receiving Omontys had suffered extreme reactions and died, Reuters noted.
Other patients were reported to have experienced strong hypersensitivity reactions — including 19 reports of anaphylaxis — to the drug. Also known as peginesatide, the medication is designed to combat anemia in adults undergoing dialysis.
In November, the U.S. Food and Drug Administration stopped production of a generic version of the anti-cholesterol drug Lipitor made by Ranbaxy Laboratories (PINK:RBXZF) after glass particles were found in some shipments.
Shares of Takeda Pharmaceutical fell more than 2% in over-the-counter trading.
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