Irvine-based Allergan Inc. said Friday it plans to continue working with Inspire Pharmaceuticals Inc. in its bid to get regulatory approval for a dry-eye treatment.
Durham, N.C.-based Inspire’s shares fell 33% early Friday after the Food and Drug Administration said clinical studies were insufficient to approve diquafosol tetrasodium for treating dry eyes.
Allergan sells Restasis, the only approved U.S. drug to treat dry eye. The company partners with Inspire on Restasis, which is sold through Inspire’s sales staff. Allergan is looking to add Inspire’s dry-eye drug to its product line.
Inspire said it plans to meet with Allergan next week to talk regulatory strategy for diquafosol tetrasodium.
