GlaxoSmithKline to highlight potential blockbuster cancer drug

Share this article:
British drug maker GlaxoSmithKline is expected to unveil details of a breakthrough cancer drug this week that could be a potential blockbuster, generating billions of dollars in sales for the company.
According to a report published on the U.K.-based Web site of The Daily Telegraph newspaper, Glaxo will use an upcoming research seminar to present data on a potential treatment for low blood platelet count, which is associated with liver failure and chemotherapy. At the moment, patients suffering from the disease either have to undergo a blood transfusion or have their spleen removed. If Glaxo's product is successful, a tablet could replace those treatments.
The drug called eltrombopag, is still in early stages of development but analysts at Merrill Lynch have estimated it could become a $2.8 billion-a-year best seller. Analysts also said the product could be launched as early as the middle of 2007.
The seminar will mark Glaxo's arrival as a major player in the fast-growing world of cancer medicine. Oncology has previously been a small area for the company with cancer drugs accounting for just 5% of group sales.

This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions