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Alexza Wins U.S. Approval for Inhaled Antipsychotic Drug

Alexza Pharmaceuticals Inc., the company that hired Lazard Ltd. a year ago to explore strategic options including selling itself, won U.S. approval of its rapid antipsychotic medicine.

The Food and Drug Administration cleared the inhaled treatment Adasuve for agitation associated with schizophrenia or bipolar disorder in adults, the company said today in a statement. The drug, recommended by European regulators for approval Dec. 14, will be the Mountain View, California-based company’s first product on the market.