FDA approves Pfenex's osteoporosis therapy

The U.S. Food and Drug Administration on Monday approved a bone-building drug from Pfenex Inc to treat osteoporosis in certain patients at high risk for fractures, giving the company its first commercial product.

The company said it is seeking the FDA's authorization to designate the drug, PF708, as therapeutically equivalent to Eli Lilly and Co's injectable drug Forteo.