Green light for Galen menopause drug

GALEN has received regulatory approval for its new menopause drug Femring.

Galen shares rose buy 9.5% after the US Food and Drug Administration gave the all-clear to sell the drug. The Craigavon-based firm plans to launch the drug in June and forecast sales of up to $100 million over three years.

The approval is another boost for Galen and its shares, which had fallen by 20% this year on concerns that some of its HRT treatments had adverse side effects. “Femring is the first product which Galen has developed and taken through the FDA approval process and as such, is an important milestone for the company,” NCB analyst David Marshall said yesterday.