Analysts expect Chirocaine to generate annual sales of pounds 100m to pounds 150m at its peak. Celltech Chiroscience's shares closed up 11p at 500p.
CELLTECH CHIROSCIENCE, the merged UK biotechnology group, has become the first UK biotech company to win approval from the US Food and Drug Administration for a major pharmaceutical product. The FDA has approved Chirocaine, a painkiller to be used mainly in childbirth and minor surgical procedures. The drug has already been approved in Sweden and other European countries are expected to make a decision on its approval by mid-2000.