FDA approves extended-release painkiller

CAMBRIDGE, Mass. The Food and Drug Administration has approved a regulatory approval application for a pain drug made by CombinatoRx, the drug maker announced Tuesday.

The FDA approved Exalgo (hydromorphone hydrochloride) extended-release tablets, for the management of moderate to severe pain in patients who need continuous pain relief for long periods of time.

Covidien will pay CombinatoRx a $40 million milestone payment for the approval and is eligible to receive tiered royalties on sales of the drug.