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.