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Shire plc (LON:SHP) report:European approval for VPRIV
August 27, 2010, Friday, 16:29 GMT | 11:29 EST | 20:59 IST | 23:29 SGT
By Daniel Stewart & Co
- Shire yesterday announced that the European Commission has granted marketing authorization for its VPRIV treatment, indicated for Type 1 Gaucher Disease
- The treatment has been authorized as an orphan medicine through the Centralised Procedure, making it available in 30 countries across Europe.
- The company received US approval for the treatment earlier this year.
- Shire’s approvals come at convenient time, given that competing drug, Cerezyme—manufactured by US player Genzyme—has had manufacturing issues which have led to a c. 34% drop in sales last year.
- Cerezyme is a very expensive drug, costing patients c. $200,000 on average per year. Shire plans to sell VPRIV at a discount to Cerezyme.
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