GlaxoSmithKline shares rose on Wednesday, after the group clawed back some of their lead in respiratory medicine with regulatory approval for their new lung disease drug.
The group’s new three-in-one inhaler for chronic lung disease, Trelegy Ellipse obtained approval from US regulators on Tuesday, just after winning a recommendation for approval from the European Medicines Agency.
The leading pharmaceutical company suffered some problems after sales of its top selling drug Advair fell as the market flooded with own-brand alternatives. Trelegy Ellipse is one of the first drugs brought out by the company since, in an attempt to increase revenue streams and beat off competition from competitors such as AstraZeneca and Novartis. Analysts with Jefferies have predicted GSK’s Trelegy Ellipta could grow to peak sales of $1.5 billion.
Other products in its pipeline, labelled by CEO Emma Walmsley as “critical” to get the company’s sales back on track, include shingles vaccine Shingrix and a dual-drug regimen for HIV. Several months ago Walmsley announced the decision to streamline the roup’s drug research and allocate 80 percent of its R&D budget to respiratory and HIV/infectious diseases, along with two other potential areas of oncology and immuno-inflammation.
Shares in GlaxoSmithKline are currently trading up 0.45 percent at 1,458.00.
