AstraZeneca receives EU approval for Axanum

AstraZeneca's new drug Axanum has received a positive agreement of approval in 23 European Union member states and Norway.

The medicine was created to treat patients at high risk of cardiovascular events such as heart attack and stroke, while also offering protection against the development of gastric ulcers.

Axanum is a combination of low-dose aspirin and esomeprazole, the active ingredient in the Nexium drug.

Tony Zook, executive vice-president of AstraZeneca's global commercial organisation, welcomed the company's latest regulatory approval.

"We will now work with relevant health authorities to secure reimbursement decisions and get on to formularies to bring this medicine to patients as soon as possible," he said.

Last week, AstraZeneca announced that its revenue for the second quarter of the year was $8.43 million (5.18 million pounds), down by two percent from the corresponding period of 2010 on constant exchange rates.

However, chief executive David Brennan noted that the firm's blood-thinning drug Brilinta has now been approved for sale in 41 countries.