GlaxoSmithKline Files for Diabetes Drug's European Approval
Pharmaceutical firm GlaxoSmithKlineannounced Thursday that it has filed its type-2 diabetes drug albiglutide for regulatory approval with the European Medicines Agency (EMA). Glaxo submitted the drug for FDA approval in the United States back in January.
Albiglutide is Glaxo's latest drug to be filed for approval; currently, the company has six therapies under review in Europe or the U.S. Albiglutide is a once-weekly injectable treatment for adult type-2 diabetes, with analysts estimating peak sales of the drug at an average of $285 million. While many analysts project the drug to receive approval, they also cite competition in the lucrative diabetes market in keeping projected sales of albiglutide low.
The article GlaxoSmithKline Files for Diabetes Drug's European Approval originally appeared on Fool.com.Fool contributor Dan Carroll has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.