EU approves Bayer's new long-term contraceptive

(FRANKFURT) - German drug maker Bayer said on Wednesday that European Union authorities had given the go-ahead for a new contraceptive which can prevent pregnancies for up to three years.

Bayer said in a statement that its healthcare division "has successfully concluded the European registration procedure for its new low dose levonorgestrel-releasing intrauterine system (IUS)."

IUS is "a long-term contraceptive placed in the uterus for the prevention of pregnancy for up to three years."

First launches of the product -- which will be marketed under the name "Jaydess" -- are expected in the second quarter of 2013 in the EU, the statement said.

Bayer also applied for US marketing authorisation for the product in December 2011.