BUZZ-60 Degrees rises as FDA green lights Australian import of anti-malaria drug

Specialty pharma firm 60 Degrees Pharmaceuticals' SXTP.O shares rise 5.6% to 63 cents in afternoon trade

Company says the FDA does not object to co's plan to import anti-malaria drug from Australia against any near-term disruption in the U.S.

Arakoda is an antimalarial drug for the prophylaxis of malaria in patients aged 18 years and older in the U.S.

The drug is sold under the brand name Kodatef in Australia

The drug is not approved for use in the U.S.

SXTP plans to import a five-month supply of Kodatef while increasing manufacturing of Arakoda over long term

Co says the two products are identical in their dosing regimens, mechanisms of action, safety and efficacy profiles, and other clinical features

In the last 12 months, stock has fallen 80.2%