18th Nov 2013 13:31
LONDON (Alliance News) - GlaxoSmithKline PLC Monday said that the European Commission has granted marketing authorisation for asthma and chronic pulmonary disease drug Relvar Ellipta, which is now licenced across 31 European countries.
The pharmaceuticals giant said that under the terms of a 2002 collaboration, Theravance Inc. is obligated to make a milestone payment to Glaxo of USD15 million following the marketing authorisation.
Glaxo shares were up 0.4% to 1,621.5 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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