King Pharmaceuticals Inc. said that Food and Drug Administration approved its drug Embeda, a painkiller that is designed to be abuse-resistant.The FDA approval covers the use of Embeda for moderate to severe chronic pain. Embeda's primary ingredient is morphine, but the pills contain a core of a second drug called naltrexone. If the pill is taken normally, it will release the morphine. However if it is crushed or chewed, the naltrexone is released, canceling out the high from the morphine.
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King said it will launch Embeda in September. The company acquired the rights to Embeda at the end of 2008, when it bought the drug's developer Alpharma Inc. for $1.6 billion.
In aftermarket trading, King shares rose 42 cents, or 4 percent, to $11. The stock advanced 4.4 percent to $10.58 during the day.
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