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Home Industry News GlaxoSmithKline to unveil “$2.8 billion a year” cancer drug

GlaxoSmithKline to unveil “$2.8 billion a year” cancer drug

28th November 2005

GlaxoSmithKline is due to unveil a “breakthrough” cancer drug that could generate sales for the company of $2.8 billion a year, reports the Sunday Telegraph.

The paper reports that Britain’s largest pharmaceuticals group will present the data on eltrombopag – a potential treatment for low blood platelet count, which is associated with liver failure and chemotherapy – at a research seminar later in the week.

Investment bank Merrill Lynch estimates that potential yearly sales of the drug could reach $2.8 billion while Lehman Brothers estimates the overall size of the market to be $4.5 billion.

Currently, patients suffering from liver failure either have to undergo a blood transfusion or have their spleen removed therefore a tablet treatment is seen as a huge step forward.

The Sunday Telegraph reports that GSK has already been in talks with the US Food & Drug Administration about getting it approved and said some analysts believe it could be launched as early as the middle of 2007.

GSK is also believed to be preparing an announcement on another cancer drug, lapatinib, a medicine initially developed for breast cancer but now developed for other cancers.

Up until now cancer drugs have consisted of just five percent of GSK sales but the new drugs herald a change strategy of the company in to what is becoming a very profitable area.

track© Adfero Ltd

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