News Update: Bayer AG Receives US FDA Approval of New Erectile Dysfunction Drug [vife-L0JOge]

News Update: Bayer AG Receives US FDA Approval of New Erectile Dysfunction Drug [vife-L0JOge]

| 1h 28m 28s | Video has closed captioning.

German pharmaceuticals firm Bayer AG announced Monday morning that it received U.S. Food and Drug Administration approval of its new drug Staxyn, a new formulation of the company's well-known erectile dysfunction drug, Levitra. Bayer's American marketing partners, Merck & Co, Inc. (NYSE:MRK) and GlaxoSmithKline Plc (NYSE:GSK), said they expect the drug to be available via prescription later this year. Bayer has submitted for European authorization of Staxyn and expects to gain approval this year, as well. Shares of Merck are trading up 0.17% in Monday morning trading at $35.73, as are shares of GlaxoSmithKline, which are up 0.27% at $35.58.