Sanofi gets boost as EU backs diabetes and cancer drugs

LONDON Fri Nov 16, 2012 7:19pm IST

Related Topics

Stocks

   
Rajalakshmi (C), 28, smiles after winning the Miss Wheelchair India beauty pageant in Mumbai November 26, 2014. REUTERS/Danish Siddiqui

Miss Wheelchair India

Seven women from across India participated in the country's second wheelchair beauty pageant, which aims to open doors for the wheelchair-bound in modelling, film and television, according to organisers  Slideshow 

LONDON (Reuters) - Sanofi won the backing of European regulators for two new drugs against diabetes and cancer on Friday, a shot in the arm for the French company's drive to bring new products to market.

New diabetes drug Lyxumia was recommended for treating type 2 diabetes and Zaltrap was endorsed for the treatment of advanced colorectal cancer, the European Medicines Agency (EMA) said.

Recommendations from the EMA are normally endorsed by the European Commission within two or three months and Sanofi said it expected to hear from the Commission in the first quarter of 2013.

Lyxumia, which Sanofi licensed from Denmark's Zealand Pharma, is part of a new class of diabetes treatments called GLP-1 analogues which prompt the body to release insulin when a diabetic's blood sugar level climbs too high.

It is one of several new medicines Sanofi is banking on to drive growth after patent losses on former top-selling drugs.

Pierre Chancel, Sanofi's global head of diabetes, said the positive opinion for Lyxumia was "an important milestone" and would help expand the company's already strong diabetes franchise, which is dominated by the long-acting insulin Lantus.

Sanofi plans to submit Lyxumia for approval with the U.S. Food and Drug Administration by the end of the year.

Rival GLP-1 treatments include Novo Nordisk's Victoza, and Byetta and Bydureon, from Amylin, the U.S. drugmaker acquired earlier this year by Bristol-Myers Squibb and AstraZeneca.

Zaltrap, developed with Regeneron Pharmaceuticals, is a so-called anti-angiogenic agent, designed to starve tumors of blood. It was approved in the United States in August.

Although the drug failed to live up to its promise as a treatment for prostate cancer in late-stage tests, it has shown significant improvement in overall survival in patients with colon cancer.

Shares in Sanofi were 0.6 percent by 1340 GMT. The stock is up close to a fifth this year, making it France's largest company by market capitalization, reflecting growing confidence that new drugs will help it offset patent losses on older ones.

(Reporting by Ben Hirschler; additional reporting by Elena Berton in Paris; Editing by Chris Wickham)

FILED UNDER:

Ebola Outbreak

Reuters Showcase

Ebola Crisis

Ebola Crisis

U.N. to miss Dec 1 Ebola target due to rising Sierra Leone cases.  Full Article 

Tobacco Curbs

Tobacco Curbs

China considers tougher tobacco controls: Xinhua.  Full Article 

Reuters Exclusive

Reuters Exclusive

Pay per puff? Caffeine stick? E-cigarette boom sparks race for new patents  Full Article 

Healthy Diet

Healthy Diet

Studies examine U.S. meals in schools.  Full Article 

Fatal Accidents

Fatal Accidents

Helmets, engine size important in child deaths on ATVs.  Full Article 

Fertility Woes

Fertility Woes

Little understood chemicals cut men’s fertility.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage