Healthcare Business Review: L’Oreal’s FDA WARNING, Dara’s SWISS Deal
L’Oreal Co.’s (LRLCY.PK) Lancome USA division has run afoul of the FDA and has thus received a warning concerning the marketing of a number of its anti-wrinkle products that may be misleadingly classified by the company as drugs. Ads for some of the skin care and eye rejuvenator products say they can “boost the activity of genes and stimulate the production of youth proteins” or provide “immediate lifting” to the eye area, both of which violate federal drug regulations.
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Shares of Neuralstem, Inc. (AMEX:CUR) reversed their big gains from Thursday, sliding on word of the pricing of a secondary offering for 7 million shares at $1.00, which marks a 27 percent discount to the previous close. The firm will use the proceeds for clinical trials, research and development, along with other general purposes.
Dara Biosciences, Inc. (NASDAQ:DARA) shares gain more than a fifth of their value on the day, after signing an exclusive contract with The Helsinn Group of Switzerland for the domestic commercial rights to Gelclair. The medication is an FDA-approved topical gel used to reduce pain from oral mucositis.
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