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PARIS, Nov 17 (Reuters) - French diagnostics company BioMerieux (BIOX.PA) and British drugmaker GlaxoSmithKline (GSK.L) will develop a test to help specialists determine the most appropriate treatment for breast cancer patients.
Both companies will fund the development of the test, BioMerieux said in a statement on Tuesday, but no financial details of the agreement were disclosed.
Over 500,000 new cases of breast cancer are diagnosed each year in the U.S. and Europe. Predictive tests have been shown to improve outcomes for these patients, BioMerieux said.
Oddo Securities said in a research note the test could reach the market as early as 2015 and that in time could yield annual sales of 10 million to 15 million euros.
The tests can help detect the origin of tumours, which is particularly useful in the 3 to 5 percent of patients who receive a diagnosis after the cancer has spread and it is not clear where it started, BioMerieux said in a statement earlier this year. (Reporting by Caroline Jacobs, editing by Will Waterman)