Impax Laboratories Inc. shares rose 4.4% in premarket trade Tuesday after the company said that its generic Renvela, used to lower phosphorus levels for patients on kidney dialysis, had been approved by the Food and Drug Administration. Impax said it has “immediately” launched commercialization activities for generic Renvela. Sales of the product are included in the company’s previously-announced 2017 earnings guidance, the company said. Brand and generic sales of Renvela totaled nearly $2 billion in the year ending August 2017, Impax said, referencing IMS Health data. Sanofi manufactures Renvela , and generic maker Dr. Reddy’s Laboratories Ltd. recently launched a generic Renvela in the U.S. Impax shares have surged 8.5% over the last three months, compared with a 3.9% rise in the S&P 500 .
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