QRxPharma drops 80pc after US rejects ‘great drug’

Shares in Australian pharmaceutical firm QRxPharma have plummeted 80 per cent in a major shareholder revolt after the company failed to win US regulatory approval for its painkiller Moxduo.

Bianca Hartge-HazelmanContributor

Updated Apr 23, 2014 – 2.42pm, first published at 10.41am

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Shares in Australian pharmaceutical firm QRxPharma have plummeted 80 per cent in a major shareholder revolt after the company failed to win regulatory approval for its painkiller drug, Moxduo, to be released in the United States.

QRxPharma shares are trading around 13¢, down from 70¢ on April 17 and 12.5 per cent below where they were at the start of this year.

Bianca Hartge-Hazelman is the author of the Financy Women’s Index and founder of the Impacter app which helps businesses with diversity, equity and inclusion. Connect with Bianca on Twitter.