DRUGS company AstraZeneca announced a boost for one of its key drugs yesterday after cholesterol-beating product Crestor received the support of Japanese authorities.
Shares in Astra rose as investors expressed relief at some good news from the company after a series of setbacks, including the emergence that its drug Iressa did not boost the survival chances of lung cancer sufferers.
Crestor was also recently in the spotlight after an official at the US Food and Drug Administration said a closer review was needed amid fears that it caused acute kidney failure.
The backing from the Pharmaceuticals Affairs Council in Japan means Crestor has received regulatory approvals in 68 countries. It has also been launched in more than 50 countries, including 19 European markets.
The product is seen as one of the most important in Astra's portfolio, with analysts believing it could provide a fifth of the group's earnings by 2008.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article