GSK share price: COPD drug gets green light in Europe

on Feb 20, 2014
Updated: Apr 9, 2020
Listen, Thursday, February 20: GlaxoSmithKline Plc’s (LON:GSK) Anoro drug, co-developed with San Francisco-based Theravance Inc (NASDAQ:THRX), has received the green light by the European Medicines Agency (EMA), the two companies have said. The drug, which treats chronic obstructive pulmonary disease (COPD), is already approved in North America.

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GSK’s share price has added about 0.2 percent in London trading.
**GSK’s Anoro gets EMA approval**
GSK and Theravance said today in a statement that EMA’s Committee for Medicinal Products for Human Use (CHMP) had issued a positive opinion recommending marketing authorisation for
umeclidinium/vilanterol (UMEC/VI) under the proposed brand name Anoro. The drug has been granted approval as a once-daily, maintenance bronchodilator treatment to relieve symptoms in adult patients with COPD.

The drug is a combination of two compounds in a single inhaler called Ellipta. In December, Anoro Ellipta was approved for use in appropriate patients with COPD by both the US Food and Drug Administration and Health Canada. Analysts polled by Thomson Reuters expect the drug to generate sales of more than $2 billion (£1.2 billion) a year by 2018.
A positive opinion by EMA’s CHMP is generally followed by marketing authorisation from the European Commission with GSK expecting a final decision during the second quarter. In November, the Commission granted marketing authorisation for GSK and Theravance’s Relvar drug for treatment of both asthma and COPD, with the medicine also inhaled through the Ellipta device. (EC grants marketing authorisation for asthma drug Relvar)

**Analysts on GSK**
Sanford C. Bernstein today reiterated its ‘market perform’ rating on GSK with a price target of 1,603p. Analysts at Barclays last week reiterated their ‘equal weight’ rating on the FTSE 100 drugmaker with a price target of 1,575p, while Kepler Capital Markets reaffirmed the pharma company as a ‘buy’ with a price target of 1,800p. GSK currently has an average ‘hold’ rating and a consensus price target of 1,720.38p.

**As of 13:38 UTC, buy GSK shares at 1685.50p.**
**As of 13:38 UTC, sell GSK shares at 1684.50p.**

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