Another cheap, old drug is being freshened up for brand pricing in the US — and shares soar

When the execs at Fortress went about setting up their pain drug biotech Avenue Therapeutics $ATXI, they went to some extremes to avoid R&D risk. Instead of trying something new, they tweaked a European IV formulation for tramadol — never approved in the US, where oral tramadol has been prescribed for 23 years — and took a shot at a pivotal program.