Takeda and Millennium have announced that the Committee for Medicinal Products for Human Use (CHMP) has delivered a positive opinion for conditional approval of brentuximab vedoitin.
Clinical research has gone into investigating the drug, which aims to treat adult patients with relapsed or refractory CD30 positive Hodgkin Lymphoma.
The solution is an antibody-drug conjulate and the CHMP's positive opinion will now be reviewed by the European Commission.
Trevor Smith, head of commercial operations, Europe & Canada, Takeda Pharmaceuticals, said: "Takeda is dedicated to developing innovative and novel therapeutics that make a real difference to patients’ lives.
"If approved, brentuximab vedotin will be the third product in the Takeda oncology franchise to be launched in Europe."
This news comes after Takeda acquired Brazilian company Multilab in a bid to boost its presence in the country's pharmaceutical industry.
The move puts the company into the country's top ten pharmaceutical businesses, with the agreement set to pick up a number of products thanks to the purchase.