GO
Loading...

Drugmaker Schwarz Pharma Gets Nod for Parkinson's Drug

Drug maker Schwarz Pharma said Tuesday that its Neupro treatment for Parkinson's disease has received approval in Europe to treat the illness in its advanced stages.

The drug was first approved in March 2006 in Europe to treat early stages of the illness in March 2006 and is available in Germany, Austria, Switzerland, Britain, Ireland, Denmark, Norway, Sweden, Greece and Spain.

The company, which is set to become part of Belgium's UCB in a 4.4 billion euro ($5.7 billion) deal, has said that sales of the drug could reach as much as 350 million euros annually.

Shares of Schwarz Pharma were up more than half a percent to 106.13 euros in Frankfurt trading.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More*

Don't Miss

U.S. Video

  • CNBC's Tyler Mathisen looks back at the week's top business and financial stories. The markets were closed for Thanksgiving, but did manage to hit new highs. Low oil prices gave consumers more money to spend for Black Friday.

  • Cyber Monday deals on Walmart's website on Dec. 2, 2013.

    CNBC's Tyler Mathisen looks ahead to what are likely to be next week's top stories. The jobs report comes out this week, as do auto sales. And the Rockefeller Center Christmas tree is lit.

  • Following last week's wild energy ride, analysts expect oil prices to continue to drop during the holiday season. CNBC's Patti Domm reports.