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S.Korea approves Zeltia cancer drug Yondelis

Thu May 8, 2008 8:52am EDT

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MADRID, May 8 (Reuters) - Spain's Zeltia (ZEL.MC) said on Thursday its cancer drug Yondelis has been approved for sale in South Korea, pushing shares higher.

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Yondelis has been on sale in Europe since last year for treating soft tissue sarcomas, and the company said it expects European sales of 34 million euros ($52.12 million) for the drug this year.

In South Korea, Yondelis will be distributed by Johnson & Johnson (JNJ.N), which has non-European marketing rights for the drug and pays royalties to Zeltia.

Zeltia shares were 2.87 percent higher at 5.38 euros at 1241 GMT, while the leading-share Ibex .IBEX index was 0.1 percent lower. (Reporting by Robert Hetz; editing by Sue Thomas)

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