GSK's diabetes drug set for European approval

[January 24, 2014]  LONDON (Reuters) — GlaxoSmithKline said on Friday European regulators had given the green light to its once-weekly diabetes drug albiglutide, which it is marketing as Eperzan.

Albiglutide belongs to the same class of injectable GLP-1 drugs as Victoza, from Novo Nordisk, and Byetta and Bydureon, from Bristol-Myers Squibb and AstraZeneca.

A positive recommendation for a drug by the European Medicines Agency is generally followed by a marketing authorization by the European Commission. GSK said a final decision was anticipated later this quarter.

Last year regulators in the United States pushed back an approval decision on the drug until April 15.

(Reporting by Paul Sandle; editing by Kate Holton)

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