UPDATE 1-EU agency recommends Glaxo kidney cancer drug

* Votrient recommended for advanced renal cell carcinoma

* EU agency’s conditional support follows FDA approval

* Agency also backs wider use of Glaxo’s cancer drug Tyverb

(Adds sales forecasts, background on U.S. Votrient approval)

LONDON, Feb 19 (BestGrowthStock) – European regulators recommended
GlaxoSmithKline’s (GSK.L: ) new kidney cancer drug Votrient for
conditional approval on Friday, paving the way for its rollout
across the European Union.

The green light from the European Medicines Agency, whose
recommendations are normally endorsed formally by the European
Commission within a couple of months, follows an approval from
the U.S. Food and Drug Administration in October.

The decision to recommend conditional approval means further
evidence on the drug is awaited. In the case of Votrient, the
agency wants to see a comparison with Pfizer’s (PFE.N: ) Sutent.
It plans to review new information on Votrient within a year.

Votrient, also known by its chemical name pazopanib, is
designed to treat advanced renal cell carcinoma. It is seen as a
modest driver for Glaxo in the next few years, with global sales
expected to reach $270 million in 2013, according to consensus
forecasts from Thomson Pharma.

It will compete with a number of other existing drugs for
the disease, including Pfizer’s Sutent and Torisel, Roche’s
(ROG.VX: ) Avastin, Novartis’s (NOVN.VX: ) Afinitor, and Onyx
Pharmaceuticals (ONXX.O: ) and Bayer’s (BAYGn.DE: ) Nexavar.

Some of them, like Votrient, target the vascular endothelial
growth factor (VEGF) receptor to try to limit new blood vessels
that can feed tumours.

The European agency also backed a new use for Glaxo’s
established breast cancer drug Tyverb, which is sold as Tykerb
in the United States and goes by the chemical name lapatinib.

The drugs watchdog said Tyverb should be approved for use in
combination with an aromatase inhibitor, in breast cancer
patients with the correct genetic profile.

Tyverb/Tykerb sales are expected to reach around $650
million in 2013, according to consensus forecasts.

Stock Market Money

(Reporting by Ben Hirschler, editing by Sam Cage)

UPDATE 1-EU agency recommends Glaxo kidney cancer drug