LONDON--AstraZeneca PLC (>> AstraZeneca plc), a biopharmaceutical company, and Bristol-Myers Squibb (>> Bristol Myers Squibb Co.), said Wednesday that the European Commission has approved Forxiga(>> TOYOTA MOTOR CORPORATION) (dapagliflozin) tablets for the treatment of type 2 diabetes in the European Union.
-Forxiga is a selective and reversible inhibitor of sodium-glucose cotransporter 2 (SGLT2) that works independently of insulin to help remove excess glucose from the body, a unique mode of action not seen in any other currently available treatments for type 2 diabetes.
-Shares at 1652 GMT down 1%, at 2856 pence, valuing the company at GBP35 billion.
-Write to Mark Shapland at email@example.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires