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AstraZeneca’s type-2 diabetes drug gets EU approval

Qtrilment, already approved in the US, comes in tablets and helps adults to control the level of sugar in the blood

AstraZeneca - AstraZeneca’s type-2 diabetes drug gets EU approval
New and legacy diabetes products account for a quarter of the pharma giant’s biopharmaceutical business

AstraZeneca PLC (LON:AZN) concluded a busy week with approval for its type-2 diabetes drug by the European Commission, following the green light by US authorities in May.

Qtrilment comes in tablets and helps adults to control the level of sugar in the blood.

READ: AstraZeneca gets priority review in US for new NF1 treatment

It is marketed to American patients under the name of Qternmet XR as an addition to diet and exercise.

There is no consensus forecast for the drug, but Qtern, which contains a combination of two its three components, is expected to reach US$120mln over the next four years.

New and legacy diabetes products account for a quarter of the pharma giant’s biopharmaceutical business.

“A broad portfolio remains key in the diabetes space where achieving control of blood sugar levels remains the most important goal and where different treatment options afford flexibility in meeting this objective,” analysts at Liberum said in a note.

The FTSE 100-listed company announced earlier this week a new anaemia treatment hailed by analysts as “yet another blockbuster drug” with a potential US$5bn annual revenue, followed by news on progression of its neurofibromas and lupus candidates.

Shares were little moved at 7,309p on Friday morning.

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