January 7, 2013- Synergy Pharmaceuticals (SGYP) has gotten positive results from trials of its experimental chronic constipation drug and, as a result, is close to receiving approval from the United States Food and Drug Administration (FDA) to sell its new drug to American consumers.
When that happens, Synergy Pharmaceuticals will find itself in direct competition with Ironwood Pharmaceuticals. Inc., Ironwood is another drug company that recently received approval from the Food and Drug Administration to sell its chronic constipation drug, called Linzess, in the United States. Ironwood Pharmaceuticals, Inc. received approval on August 8th and began selling its solution to constipation just two weeks ago.
Analysts and investors are aware of Synergy Pharmaceuticals and the fact that it will be selling its new drug to Americans who suffer from constipation shortly. The company’s stock rose nearly twenty five percent on Wednesday and reached a high of $6.58 per share before ending the day at $5.88 per share.
Ironwood Pharmaceuticals, Inc. had a good day, as well. Its stock rose four percent and closed at $11.53.
Synergy Pharmaceutr9cals tested its new drug on 951 patients over a twelve week period.
Analysts believe the company can generate $2 billion is sales just in the American marketplace.