Lilly-Amylin diabetes drug approved in EURegulators give green light to Byetta, which treats the most common form of the disease and has been on the U.S. market since 2005.NEW YORK (CNNMoney.com) -- European regulators approved Byetta, a diabetes drug from Eli Lilly & Co. and Amylin Pharmaceuticals, the companies announced Tuesday. Byetta, a treatment for type 2, the most common type of diabetes, has been on the market in the U.S. since 2005. With the newly-announced approval from the European Commission, the companies expect to launch Byetta in Europe in 2007.
Type 2 diabetes, which is often brought on through unhealthy lifestyles, is an increasing problem in the U.S. and Europe. Byetta, an injectable drug that improves blood-sugar levels, is considered by some analysts to be a potential blockbuster. Sales for Byetta totaled nearly $300 million in the first nine months of 2006. The profits are split between Indianapolis-based Lilly (down $0.17 to $54.38, Charts), the seventh-largest U.S. drugmaker, and Amylin (down $0.59 to $42.86, Charts), a San Diego-based biotech. Byetta, also known as exenatide, is based on a compound that occurs naturally in the saliva of the Gila monster, a rare and venomous lizard that dwells in Mexico and the American Southwest. In October, the FDA approved Merck's (down $0.49 to $44.57, Charts) diabetes drug Januvia, which controls blood-sugar levels in type 2 diabetics. Januvia is expected to eventually compete with Novartis' (down $0.13 to $58.16, Charts) experimental drug Galvus. Analysts consider both pills to be potential blockbusters. |
|
