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Novartis wins European approval on new drug development

Novartis wins European approval on new drug development

Novartis AG said Friday that its Sandoz generic drugs unit received approval from the European Commission for its biosimilar epoetin alfa drug, which regulates the formation of red blood cells.
The European Commission's decision to grant approval follows a positive opinion in June from the European Medicines Agency's Committee on Medicinal Products for Human Use, which reviews medicines scientifically for the Commission.
More than 250,000 patients in Europe are estimated to be treated with epoetin alfa, which is marketed under various brand names.
Worldwide annual sales are estimated at more than US$7 billion (euro5.1 billion), including US$600 million (US$439.7 million) in Europe.
Sandoz CEO Andreas Rummelt said the company was pleased with the decision and would quickly bring the product to market.


Updated : 2021-06-13 20:10 GMT+08:00