Question marks remain over Glaxo drug Relovair

9th Jan 2012 07:13

Anglo-American drugs giant GlaxoSmithKline has seen its share price fall this morning despite announcing its once-a-day respiratory drug Relovair is soon to be submitted for regulatory approval.Glaxo, and US counterpart Theravance, said the phase III registration programme for Relovair to treat patients with chronic obstructive pulmonary disease (COPD) has been completed. Additionally, all but one of the pivotal studies in patients with asthma have been completed.For COPD, Glaxo intends to submit regulatory applications in the US and Europe in mid-2012. For asthma, Glaxo plans to submit an application in Europe in mid-2012 but will only "continue discussions" with the US Food and Drug Administration.The asthma study programme is still waiting on results comparing the efficacy of Relovair against fluticasone propionate and a placebo. That study is expected to complete in the first half of 2012. Glaxo admits a 24 week "superiority study" of Relovair against another drug, Seretide, in asthma patients "did not meet the predefined threshold for superiority". Glaxo describes this study as "non-pivotal".The COPD programme included two 52-week "exacerbation" studies, each of which randomised approximately 1,620 patients. In the two studies Relovair, at all doses, performed better than its comparator Vilanterol. Despite the success, Glaxo is investigating reports of fatal pneumonia amongst patients who used Relovair, primarily at the 200/25mcg dose.In the last 12 months GlaxoSmithKline shares have climbed 21%. In morning trading today the stock fell just short of 2%.BS