Novartis cancer drug Glivec gets EU approval

BASEL, Switzerland (Reuters) – Novartis AG's Glivec drug has been approved by the European Union to treat adult patients with chronic myeloid leukaemia, the Swiss healthcare group said on Thursday.

The EU approval covers using Glivec for treating patients in the chronic phase of chronic myeloid leukaemia after interferon-alpha therapy fails or those in the more serious blast crisis phase of the disease, it said in a statement.

Glivec is already sold in more than 35 countries, including the United States, where the innovative drug received record-fast regulatory approval based on successful results from clinical trials.

Novartis expects the drug, which is being tested as a treatment for other cancers as well, to be a blockbuster with annual sales of more than $1 billion by 2005.

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