British drugmaker GSK Plc (GSK.L) said on Tuesday it has initiated a process to withdraw the U.S. approval for its blood cancer drug Blenrep, after the therapy failed to meet the requirements of a key trial.
Earlier this month, the company said Blenrep had failed the main goal of a late-stage study designed to show it was better than an existing treatment in the market, stoking fears that regulatory approval may be rescinded by authorities.
The drug was given an accelerated approval by the U.S. regulator in 2020 for patients with relapsed or refractory multiple myeloma. Last year, the drug garnered 89 million pounds ($105.4 million) in global sales.
($1 = 0.8447 pounds)