(Reuters) – A committee of the European health regulator on Friday confirmed its initial recommendation to not renew conditional market approval for GSK’s Blenrep, citing recent data that did not confirm the blood cancer drug’s effectiveness.
Shares in the British drugmaker were down 2%, to 1432.6 pence, at 1355 GMT.
In September, the European Medicines Agency’s committee recommended against renewing the conditional marketing authorisation for Blenrep, a setback to the key oncology unit GSK has been looking to strengthen.
The drug was also pulled from U.S. markets last year after it failed a late-stage study designed to show it was better than an existing treatment available in the market.
GSK said last month that Blenrep, which was the second-largest contributor to GSK’s oncology business in 2022, had reached a key goal in a separate late-stage trial.
(Reporting by Prerna Bedi in Bengaluru; Editing by Shounak Dasgupta and Pooja Desai)
