NEW YORK (AP) — Pfizer Inc. said Thursday that European Union regulators approved its drug Vyndaqel, which is designed to treat a rare neurodegenerative disease.
Vyndaqel was approved as a treatment for transthyretin familial amyloid polyneuropathy, a potentially fatal genetic condition that affects around 8,000 people worldwide. The drug is taken orally, and it is an alternative to liver transplants, which are the standard treatment for the disease.
Pfizer asked the Food and Drug Administration to approve Vyndaqel, or tafamidis, earlier this year, but in April, the FDA said Pfizer’s application was incomplete.
Shares of Pfizer fell 14 cents to $19.43 in morning trading.