Our Parkinson's Place: Italy's Newron soars on EU green light for Parkinson's drug

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Friday, December 19, 2014

Italy's Newron soars on EU green light for Parkinson's drug

Dec 19 (Reuters) - Share's in Italian drugmaker NewronPharmaceuticals soared to a six-year high on Friday as European regulators gave a green light to its experimental Parkinson's disease drug Xadago.

The medicine, also known as safinamide, is the first new drug in 10 years to receive a positive opinion from the European Medicines Agency for the treatment of Parkinson's, marking a landmark for the small Milan-based firm.

"2015 will see the company join an elite group of Europeanbiotechnology companies that have managed to develop and get a drug launched on to the market," said Samir Devani of Rx Securities.

Newron is partnering with privately-held drugmaker Zambon to market the drug, which analysts expect to compete with Azilect from Teva Pharmaceutical Industries and Lundbeck .

Swiss-listed shares in Newron were 13 percent higher at 26.30 francs by 1345 GMT, after hitting a high of 30.40.

(Reporting by Ben Hirschler; editing by David Clarke)

http://health.einnews.com/article/240633432/XVf_d8qXkcpZ2GCR