(Bloomberg) -- ’s Dupixent was cleared for a chronic lung disorder in the European Union, creating another avenue of growth for the blockbuster drug. 

Regulators in Europe became the first to clear the shot as an add-on treatment for some patients with chronic obstructive pulmonary disease, Sanofi said Wednesday. 

The medicine, already one of the industry’s top-performers, marks the first new treatment approach in more than a decade for COPD, a life-threatening inflammatory respiratory disease that causes obstructed airflow, the company said. 

The decision is a positive for Chief Executive Officer Paul Hudson, who’s looking to turn the French drugmaker into a global powerhouse with a slew of next-generation therapies.

Sanofi shares rose as much as 0.6% in early Paris trading. The stock is up about 1% this year.

Hudson shocked investors in October with a plan to increase spending on drug development, which required him to abandon some profit targets in hopes of boosting growth later. The company now is pushing a dozen potential top-selling medicines through costly clinical trials.

Dupixent improved lung function and boosted quality of life for patients with COPD in two landmark studies, Sanofi said. 

The US Food and Drug Administration is also reviewing the drug for the lung ailment and could reach a decision by Sept. 27, according to Sanofi. Regulators in China and Japan are also considering it. 

Two Studies

Dupixent, developed with Regeneron Pharmaceuticals Inc., is currently prescribed for ailments ranging from asthma to some skin conditions. It garnered €10.7 billion ($11.5 billion) in sales last year, with demand still growing around the world. 

The revenue for Sanofi may grow to more than €20 billion annually by 2030, according to analyst estimates compiled by Bloomberg. The drug will then begin seeing patent expirations, allowing for cheaper competing products in subsequent years.

Two successful late-stage studies of Dupixent in people with COPD surprised many industry analysts. Several therapies previously failed to help the condition, including AstraZeneca Plc’s Fasenra and GSK Plc’s Nucala, which lowered expectations for a breakthrough. 

(Updates with share reaction in fifth paragraph)

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