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AstraZeneca says new lung cancer pill Tagrisso approved by EU

Reuters - UK Focus

LONDON, Feb 3 (Reuters) - AstraZeneca (NYSE: AZN - news) said its new lung cancer pill Tagrisso won early approval for use in the EU, three months after U.S (Other OTC: UBGXF - news) . authorities gave it the green light, in a boost for the company.

Tagrisso, also known as AZD9291, is one of several cancer medicines AstraZeneca hopes will rebuild its sales following patent losses on older drugs. During its defence against a takeover attempt by Pfizer (NYSE: PFE - news) in 2014, the firm forecast the drug could eventually achieve sales of $3 billion a year.

The company said on Wednesday that the European Commission granted conditional marketing authorisation for Tagrisso to treat patients with a certain type of lung cancer.

AstraZeneca said the drug was the first to be approved under the regulator's expedited process. (Reporting by Sarah Young, editing by James Davey)