The Food and Drug Administration approved Amgen's drug Parsabiv, reports Reuters.
Parsabiv is intended to treat secondary hyperhythroidism in patients with chronic kidney disease who are undergoing dialysis. The drug should be administered intravenously three times at week at the end of a patient's dialysis session, according to the report.
The drug, known by the generic name etelcalcetide, is the first new therapy approved for the disease in 12 years, according to Thousand Oaks, Calif.-based Amgen.
Analysts expect annual sales of the drug to exceed $600 million by 2023.
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