Glaxo hit by FDA setback for COPD drug
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Shares in GlaxoSmithKline (LON:GSK) slipped 36.8p to 1,505.6p (as at 12:05 BST) as it revealed its application to market a new biologic drug for chronic obstructive pulmonary disease had been rejected by the advisory board of the US medical watchdog, though the company remains confident in the drug as a COPD treatment.
“Having participated in today’s advisory committee meeting and heard the recommendation we will continue to work with the FDA to address outstanding questions,” commented GSK’s respiratory research and development chief, Dave Allen.
“We remain confident our data supports mepolizumab as a targeted treatment for patients continuing to experience COPD exacerbations guided by blood eosinophil count.”
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