Portola jumps on conditional EU approval of reversal agent

Shares in US biotech Portola Pharmaceuticals (Nasdaq: PTLA) closed 3% up on Friday following news that the European Commission (EC) has granted conditional Marketing Authorization for Ondexxya (andexanet alfa).

The approval comes almost exactly a year after the US Food and Drug Administration (FDA) granted approval to the same drug, albeit that Portola has given it the trade name Andexxa in the USA.

"Our initial launch efforts will be focused on countries where Factor Xa use is among the highest"