LONDON, March 7 (Reuters) - Britain's biggest drugmakerGlaxoSmithKline said on Thursday it had filed forEuropean approval of its new once-weekly diabetes drugalbiglutide, as tries to gain a foothold in a crowded market.
Albiglutide, used to treat type 2 diabetes, belongs to thesame class of injectable GLP-1 medicines as Victoza, from NovoNordisk, and Byetta and Bydureon, from Bristol-MyersSquibb and AstraZeneca's Amylin unit.
The drug has not yet been approved anywhere in the world,GSK said.
As a latecomer to the GLP-1 market, however, analystsbelieve albiglutide may struggle to generate major sales.
GSK made a similar submission in the United States inJanuary for albiglutide, one of a number of new drugs thecompany hopes will revive its product portfolio. (Reporting by Alice Baghdjian; Editing by Paul Sandle)