FDA advisory panel backs Glaxo/Theravance lung drug

By Toni Clarke (Reuters) – An advisory panel to the U.S. Food and Drug Administration has recommended that the agency approve an experimental treatment for smoking-related lung damage made by Britain’s GlaxoSmithKline Plc and Theravance Inc. Glaxo’s U.S.-traded shares rose 1.9 percent to $50.34 following the vote. Theravance’s shares rose 17.4 percent to $32.89 in after-market trading. The drug, Breo Ellipta, is a once-daily inhaled treatment for chronic obstructive pulmonary disease (COPD), a condition that includes emphysema, chronic bronchitis or both. …