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UK Stocks Rise; Shire Gains After Filing for Drug Approval

... Bloomberg.com: U.K.

Updated: New York: Feb 03 09:00London: Feb 03 14:00Tokyo: Feb 03 23:00 US AUBZFPGRHKIMJPLNSMIND : Regions Top Worldwide Regions Asia Australia & New Zealand Canada Europe Germany Japan Latin America U.K.

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E-Mail This Story Printer-Friendly Format British Airways Profit Unexpectedly Rises 1.7 Percent on Business Travel Ryanair Chief O'Leary May Say Profit Increased on Higher Fares, New Routes Benchmark FTSE 100 Advances; Shire Gains After Filing for Drug Approval U.K.

Stocks Rise; Shire Gains After Filing for Drug Approval Feb.

3 (Bloomberg) - U.K.

stocks rose, led by Shire Plc.

Britain's third-largest drugmaker said it filed for European approval of an ulcer treatment.

The benchmark FTSE 100 Index added 6.7, or 0.1 percent, to 5754 as of 12:30 p.m.

in London.

The gain was limited by Royal Dutch Shell Plc and Kingfisher Plc.

The measure has slipped 0.6 percent so far this week.

Ireland's ISEQ Overall Index climbed 19.84, or 0.3 percent, to 7630.57 as Ryanair Holdings Plc advanced.

The gauge is up 0.7 percent in the last five days.

Shire climbed 26.5 pence, or 2.9 percent, to 931.5, the highest in more than four years.

The market for the ulcerative colitis drug SPD476 was worth about $1.6 billion last year, the company said.

Shell, the world's third-largest oil company, los...

Shire files ulcerative colitis drug with European regulators

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Shire Announces European Filings of SPD476 (Mesalazine) for ...

...If approved, SPD476 would offer a once-daily mesalazine treatment for active mild to moderate "The European submissions for SPD476 represent the achievement of another important milestone for Shire," said Shire Chief Executive Matthew Emmens.

"Currently there is no once-daily oral treatment for Food & Drug Administration in December 2005.

Shire also recently filed a New Drug Submission for SPD476 with Health Canada.SPD476 is the only Shire has licensed from Giuliani S.p.A.

the exclusive rights to develop and commercialize SPD476 in the US, Canada, Europe (excluding Italy) and the Pacific Rim.

Giuliani S.p.A.

retains the development and commercialization rights to SPD476 in Italy.

MMX was developed by Cosmo S.p.A.Notes to editorsSPD476SPD476 is a novel, high-dose 5-aminosalicylic acid (5-ASA; mesalazine) in a delayed and extended release formulation (MMX) being studied for the induction and maintenance of remission of active, mild-to-moderate ulcerative c...

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