The US Food and Drug Administration (FDA) has recently cleared the Propeller platform of Propeller Health for use with GlaxoSmithKline Plc (ADR) (NYSE:GSK)‘s Ellipta dry powder inhaler (DPI), fulfilling the agreement between the two companies.
What US FDA Clearance Means for the Companies
“The inclusion of GSK’s Ellipta inhaler in Propeller’s digitally-guided therapy platform is an important step in our goal of modernizing the management of respiratory disease,” emphasized David Van Sickle, Propeller Health CEO.
The US FDA has cleared Propeller to help patients and healthcare providers alike to gain a deeper understanding of asthma, with the primary objective of being able to relieve symptoms and improve patient outcomes. As Dave Allen, GSK Head of Respiratory Research and Development (R&D) has explained, the Propeller integration in Ellipta will provide real-time and accurate patient interaction information. Consequently, healthcare providers can acquire valuable insights that will be beneficial in patient management.
Encouraged by the US FDA clearance, the two companies hope to bring Propeller for Ellipta to the global market soon.
Q3 Financial Results
In other news, GlaxoSmithKline Plc (ADR) (NYSE:GSK) issued its third quarter earnings report last month.
The company posted £7.50 billion in group sales. Its Pharmaceuticals segment brought in £4.10 billion; the Consumer Healthcare segment brought in £1.90 billion; the Vaccines segment contributed £1.60 billion; and the New Product Sales segment contributed £1.21 billion.
New Product Sales have been driven by the strong sales of Tivicay, Triumeq, Anoro, Breo, Incruse, Nucala, Bexsero, and Menveo.
Andrew Witty, GSK CEO, believes that the results reflect a compelling third quarter performance overall. New Product Sales met initial expectations. Consequently, GSK is confident about meeting its outlook for the full 2016 year.
Presently, Pharmaceuticals, Consumer Healthcare, and Vaccines are the three major business segments of GlaxoSmithKline Plc (ADR) (NYSE:GSK) across more than 150 countries. In 2015, Pharmaceuticals made up 58% of its revenue; Consumer Healthcare made up 26%; and Vaccines made up 16%.
On Monday, GSK gained 0.54% to close the session at $38.84.
Note: This article is written by Adam Russell and was originally published at Market Exclusive.