Lilly’s Cyramza gets new marketing approval

Eli Lilly and Co.'s drug Cyramza has been approved as a treatment for lung cancer, regulators said Friday.

The Food and Drug Administration is allowing Lilly to market the drug as a treatment for cases that have spread. Earlier this year the FDA approved the drug as a treatment for gastric cancer.

Cyramza, the brand name for a drug originally called ramucirumab, fights the formation of blood vessels that feed tumors. Lilly is also studying the drug as a treatment for colorectal cancer.

Lilly received the rights to develop ramucirumab when it acquired ImClone for $6.5 billion in 2008.

Official estimate the drug could reach peak sales of $1.3 billion per year.

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