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news.Solvay Pharmaceuticals has reported that the FDA has approved Luvox CR extended-release capsules for the treatment of social anxiety disorder and obsessive compulsive disorder in adults.
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In January 2007, Solvay has licensed the right to market Luvox CR extended-release capsules and Luvox immediate-release tablets to Jazz Pharmaceuticals in the US. The license agreement provides for Jazz to pay Solvay $20 million as a result of the approval of Luvox CR. In addition, Solvay will transfer ownership of the new drug application for Luvox CR to Jazz.
Laurence Downey, president and CEO of Solvay, said: “The FDA approval of Luvox CR marks an important milestone in the relationship between Jazz Pharmaceuticals and Solvay Pharmaceuticals. We are confident that Jazz Pharmaceuticals will successfully bring this important treatment option to patients in the US.”