Teva & Xenon Receive FDA 'Orphan Drug' status for EM treatment candidate

General Articles and Research
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Teva and Xenon announced that Xenon's erythromelalgia drug in Phase 2 trials has received FDA "Orphan Drug" status.

This means that the companies are eligible to receive various tax deductions as well as some exclusive rights to develop the drug for 7 years.

http://www.nasdaq.com/article/teva-xenon-pharma-announce-fda-orphan-drug-designation-for-pain-drug-xen402-20130423-00565#.UXbxb7XvumQ