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Update: Amneal Pharmaceuticals Shares Rise After FDA Approval for Lanreotide Injection

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(Updates with the latest stock price movement in the headline and the first paragraph.)

Amneal Pharmaceuticals (AMRX) shares rose more than 10% in Monday trading after the company said Friday the US Food and Drug Administration approved its lanreotide injection, 120 mg/0.5 mL.

The company said it will immediately launch the product, which references SOMATULINE Depot and received Competitive Generic Therapy designation from the FDA.

Lanreotide injection is indicated for the treatment of acromegaly, advanced gastro-enteropancreatic neuroendocrine tumors and carcinoid syndrome, according to a statement.

Price: $20.62, Change: $+1.91, Percent Change: +10.18%

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