LONDON (Reuters) - GlaxoSmithKline said on Thursday its new inhaled lung drug, Anoro, had been approved in Europe as a treatment for chronic lung disease, boosting its respiratory franchise.
A final green light had been expected for the product, which was developed with Theravance, following a recommendation from European experts in February.
Respiratory drugs are a major business for GSK. Advair or Seretide, its market-leading lung drug, makes up a fifth of its sales, but it is already facing competition from generic versions in Europe.
Industry analysts expect Anoro to generate worldwide annual sales of about $2.65 billion by 2019, according to Thomson Reuters data.
(Reporting by Ben Hirschler; editing by Jane Baird)