Eli Lilly Blood Thinner OK'd in Europe

Prasugrel, Lilly's alternative to Plavix, has been approved for use in some heart patients in Europe.
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Updated from 9:45 a.m. EST

Eli Lilly

(LLY) - Get Report

announced Monday that the European Commission has approved marketing of prasugrel, an anti-clotting drug it developed with

Daiichi Sankyo

.

Prasugrel, or Efient, which European officials approved to help prevent blood clots in heart patients with stents, will compete with Plavix, sold by

Bristol-Myers Squibb

(BMY) - Get Report

and

Sanofi-Aventis

(SNY) - Get Report

.

The U.S.

Food and Drug Administration

is

evaluating

use of prasugrel in patients with acute coronary syndromes (ACS) managed with percutaneous coronary intervention (PCI). Analysts say if approved in the U.S., the drug could bring in $1 billion in annual revenue.

Lilly shares were down 0.8% to $32.98 in recent trading.