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The Food and Drug Administration has granted marketing clearance to Novartis Pharmaceuticals for Exelon (rivastigmine tartrate) capsules, a cholinesterase inhibitor for the treatment of mild to moderate Alzheimer’s disease. Novartis said Exelon therapy proved effective in multiple phase III trials in the key domains used to assess the disease: global functioning (including activities of daily living and behavior) and cognition. Patients given Exelon in those trials were far more likely to experience substantial cognitive improvement and far less likely to show substantial decline than those patients given placebo.
Business Reporter
Operating earnings for Exelon, the parent company of ComEd, gained 10.5 percent to $645 million, or 95 cents per share, thanks in part to the hot summer, the company said Wednesday.
Driving the increase for the third quarter was higher demand due to customers running their air conditioning during the hot summer weather. Net income was up 28 percent to $725 million or $1.07 per share over the third quarter of 2004.
The positive earnings were partly offset by the fact that Exelon Generation had to meet unexpectedly high demand at frozen, below- market rates. ComEd rates are frozen in Illinois until the end of 2006.
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