GSK scraps plans to market prostate-cancer drug

LONDON -- Drug giant GlaxoSmithKline PLC says it will no longer pursue global regulatory approval to market its Avodart drug to treat prostate cancer following negative feedback from American and Swedish regulators.

Avodart is approved in more than 90 countries to treat an enlarged prostate.

In January, a U.S. federal health panel voted against GSK's move to expand the drug's application. The panel found that Avodart's use could actually raise the risk of the most serious types of tumors.

GSK said Wednesday it had received similar feedback from Swedish health authorities and withdrawn its filing there for a regulatory review.

The company said it will work to ensure product licenses in countries currently allowing Avodart's use in cancer reduction reflect the change.