Sarepta (SRPT) Lower as Marathon Pharma Receives Orphan Drug Status for Deflazacort

August 19, 2013 12:24 PM EDT
Sarepta Therapeutics (Nasdaq: SRPT) is on watch as the U.S. FDA approved Marathon Pharmaceutical's deflazacort as a treatment for Duchenne muscular dystrophy (DMD).

In 2010, the FDA awarded the University of Rochester Medical Center's Calcort (deflazacort) orphan drug designation and has granted around 29 such distinctions since 1983.

Orphan drugs are given seven years of market exclusivity if approved by the FDA.

Others working on a treatment for DMD include Glaxo (NYSE: GSK) and Prosensa. Shares of Sarepta are down 5.7 percent Monday.

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