New Era Beckons for Zealand as Lyxumia Gains Approval
Shares in Zealand Pharmaceuticals A/S hit an all-time high Monday on news that it will shortly start logging double-digit percentage royalty payments from its partner Sanofi SA, following formal European Union approval of the once-daily glucagon-like peptide 1 (GLP-1) agonist Lyxumia (lixisenatide, AVE0010) in Type II diabetes.
"It marks the beginning of a new era. How many European biotechnology companies have commercial products?" Zealand CEO David Solomon told BioWorld Today. "This puts us on a path to sustainable and durable profitability."
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