The Food and Drug Administration has approved the sale of a cholesterol drug licensed by Sciele Pharma.
The drug is a formulation of fenofibrate in dosages of 120 and 40 milligrams developed by LifeCycle Pharma. It is enhanced with a “Meltdose” technology from LifyCycle that is designed to improve absorption.
Sciele had already paid LifeCycle $5 million for drug rights and will make another $4 million milestone payment since it has received FDA approval.
LifeCycle is based in Denmark.