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FDA OKs Orphan Drug Status For Siga Smallpox Drug >SIGA December 20, 2006

Posted by notapundit in Economic News.
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DOW JONES NEWSWIRES

Siga Technologies Inc. (SIGA) said Wednesday the Food and Drug Administration has granted Orphan Drug designation to SIGA-246, the company’s drug for the prevention and treatment of smallpox.

The designation will entitle the New York-based company to seven years of marketing exclusivity in the U.S. if SIGA-246 becomes the first drug of its kind to obtain marketing approval from the FDA.

Shares of Siga were recently up $1.10, or 41%, at $3.82 in Wednesday afternoon trade.

By Gabriel Madway

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