Keryx' shares fall as FDA approves kidney drug, but with warnings
US drugmaker Keryx Biopharmaceuticals (Nasdaq: KERX) has received approval from the US Food and Drug Administration for ferric citrate (formerly known as Zerenex) for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis.
However, the approval came with an unexpected safety warning: ferric citrate must carry a label specifying that patients being given additional iron intravenously might need to cut dosage or stop additional iron therapy as the treatment has been shown to increase iron levels. After slumping as much as 22% in earlier trading, stock closed down 5.4% to $17.01 on Friday.
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