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Epix Wins FDA Approval of Vasovist

Epix Pharmaceuticals, a Lexington, MA-based biotech company, said today it has received FDA clearance to market gadofosveset trisodium (Vasovist) as a new contrast agent to help doctors interpret magnetic resonance scans of narrowing arteries. Epix originally asked for FDA approval in December 2003. Shares of the company (NASDAQ: EPIX) more than doubled on the news, to 83 cents at 3:41 pm Eastern.