GlaxoSmithKline announced that their drug, Breo Ellipta, has been approved by the US Food and Drug Administration for use in treating chronic obstructive pulmonary disease (COPD).
The drug has been developed in collaboration with Theravance Inc with analysts predicting that it could generate annual sales of over $4 billion worldwide.
Both the companies revealed that the drug will be made available in the third quarter of this year and Theravance owes a $30 million milestone payment to Glaxo following the FDA approval.
Stating that the approval will provide different options for treating COPD, the director of FDA Office of Drug Evaluation II, Curtis Rosebraugh said, "COPD is a serious disease that makes breathing difficult. The availability of new long-term maintenance medications provides additional treatment options for the millions of Americans who suffer with COPD".