AstraZeneca plc (NYSE:AZN) has received U.S. Food and Drug Administration approval to sell its cholesterol drug, Crestor, to also treat clogged arteries.
Crestor will now be available to treat atherosclerosis in addition to being used as to lower cholesterol. It is the first widely used statin to receive this new approval.
AstraZeneca has been conducting a large number of clinical trials to prove that it is superior to other statins. "This new indication gives Crestor an important differentiator from competitors in the cholesterol-lowering marketplace," AstraZeneca said in a statement.
The new FDA approval is expected to give Crestor a leg up over competitors in the cholesterol lowering market like Lipitor from Pfizer Inc.
"FDA today approved Crestor as adjunctive therapy to diet to slow the progression of atherosclerosis in adult patients as part of a treatment strategy to lower total-C (cholesterol) and LDL-C to target levels," U.S. Food and Drug Administration spokesman Christopher Kelly said.
Financial forecasters do not believe that the new indication will help boost the financial outlook for AstraZeneca. "We are not optimistic that the atherosclerosis claim will be sufficient to drive significant Crestor market share gains," Citigroup analyst Kevin Wilson said in a note.
[Source: Reuters Health]
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