(Reuters) WASHINGTON - The Food and Drug Administration has approved a new drug to treat chronic obstructive pulmonary disease, a condition often associated with smoking that can include emphysema, chronic bronchitis, or both.
The drug, Breo, is an inhaled treatment made by British drugmaker GlaxoSmithKline Plc and Theravance Inc of the United States. It consists of a corticosteroid, fluticasone furoate, and a novel long-acting beta-agonist, or LABA, called vilanterol. The product is inhaled through a palm-sized device called Ellipta.
The approval sent Theravance shares up 8.7 percent to $34.03 on the Nasdaq late on Friday morning.
(Reporting by Toni Clarke in Washington; editing by Matthew Lewis)