Nektar Therapeutics withdrew the application for the company’s opioid painkiller for adults with chronic low back pain, after a U.S. Food and Drug Administration panel unanimously voted against the drug’s approval.

With an opioid molecule awaiting regulatory review, Nektar Therapeutics announced the launch of Inheris Biopharma, which will be responsible for the commercialization of NKTR-181.

Pfizer Inc. and Eli Lilly and Company announced that the U.S. Food and Drug Administration granted Fast Track designation for tanezumab for the treatment of chronic pain in patients with osteoarthritis (OA) and chronic low back pain (CLBP).