GSK's diabetes drug set for European approval

LONDON, Jan 24 (Reuters) - GlaxoSmithKline said on Friday European regulators had given the green light to its once-weekly diabetes drug albiglutide, which it is marketing as Eperzan.

Albiglutide belongs to the same class of injectable GLP-1 drugs as Victoza, from Novo Nordisk, and Byetta and Bydureon, from Bristol-Myers Squibb and AstraZeneca .

A positive recommendation for a drug by the European Medicines Agency is generally followed by a marketing authorisation by the European Commission. GSK said a final decision was anticipated later this quarter.

Last year regulators in the United States pushed back an approval decision on the drug until April 15.