GlaxoSmithKline's diabetes contender albiglutide nabs EU approval

European officials gave a green light to GlaxoSmithKline's once-weekly diabetes drug Eperzan (albiglutide). The GLP-1 drug is awaiting FDA approval, with a decision expected next month. It's a key win for Glaxo ($GSK), which needs new products to pump up sales as its top-seller, Advair, grows increasingly vulnerable to generic competition. Report