Eli Lilly copy of $8 billion Sanofi insulin wins EU green light

June 27, 2014 3:24 PM

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Eli Lilly copy of $8 billion Sanofi insulin wins EU green light

LONDON (Reuters) - European regulators have for the first time recommended approval of a copycat insulin for diabetics, posing a threat to French drugmaker Sanofi whose top-selling Lantus is now set to face a cheaper rival in 2015.

The new drug, known as Abasria, is made by U.S. rival Eli Lilly , which has developed it as a so-called biosimilar version of Sanofi's $8 billion (4.70 billion pounds)-a-year Lantus, or insulin glargine.

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