May 8, 2008 / 12:53 PM / 11 years ago

S.Korea approves Zeltia cancer drug Yondelis

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.

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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