Astra, Bristol diabetes drug wins EU approval

"A new diabetes drug from AstraZeneca and Bristol-Myers Squibb has been approved for sale in Europe, clearing the way for a head-to-head battle with Merck & Co's Januvia in EU markets. The green light for Onglyza from the European Commission had been widely expected, following a positive recommendation from the European Medicines Agency in June. The two pharmaceutical partners said they expected to launch Onglyza in Europe in the fourth quarter of 2009 as an add-on therapy for use alongside the older medicines metformin, thiazolidinedione or sulphonylurea. Both Onglyza and Januvia, which sold $1.4 billion worldwide in 2008, aim to enhance the body's ability to lower elevated blood sugar levels and are part of a class of drugs known as dipeptidyl peptidase-4 (DPP-4) inhibitors" - Reuters