AstraZeneca awaits US drug decision

ASTRAZENECA will reap a £2bn sales windfall if US regulators approve the launch of its cholesterol-lowering drug Crestor today. The product has already been cleared in Canada and Europe, but the US is the world's biggest drug market.

The Anglo-Swedish group needs another blockbuster to replace ulcer treatment Losec, which has lost patent protection and faces competition from cut-price rivals.

But the powerful US drug watchdog, the Food and Drug Administration, has been dragging its heels over approval for Crestor.

Analysts are concerned that restrictions will be placed on prescribing higher doses because of possible side effects. If that happens it would seriously hamper AstraZeneca in marketing the drug in competition with rival Pfizer's Lipitor.

US authorities are jumpy after Germany's Bayer was forced to withdraw its cholesterol treatment Baycol when it was linked to deaths and illnesses.

Max Herrmann at broker ING Financial Markets said: 'We expect Crestor to be recommended for approval.'

Analysts forecast annual sales of more than £2bn in the US alone by 2008. AstraZeneca hoped to launch Crestor a year ago, but the FDA asked for further research on patients taking higher doses.