AstraZeneca boosted by US FDA approval of 'Nexium'
21 February 2001 15:24 [Source: ICIS news]
LONDON (CNI)--Anglo-Swedish pharmaceuticals group AstraZeneca confirmed on Wednesday that it will launch Nexium, its replacement for ulcer drug Losec/Prilosec, in the US during March following its approval by the US Food and Drug Administration (FDA).
Although widely trailed, the announcement sent shares in AstraZeneca up sharply on the London Stock Exchange (LSE). At 14:55 hours GMT they were up 7.5% to £30.96.
AstraZeneca chief executive Tom McKillop said the FDA approval covers all indications sought for Nexium. The drug, which has been under investigation by the FDA for a considerable time, is seen by many investors as crucial to the future of AstraZeneca and its ability to prosper after Losec/Prilosec patents expire.
Nexium is already available in Europe and generated sales of $17m (Euro18.6m) last year, said AstraZeneca.
By: Neil Sinclair
+44 20 8652 3214
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