AstraZeneca Seeks OK to Expand Drug’s Use
AstraZeneca, Europe’s second-biggest drug maker, sought U.S. approval to market its Seroquel schizophrenia medication for manic depression.
Seroquel sales rose 53% to $804 million in the first nine months of last year.
Eli Lilly & Co., Johnson & Johnson and Pfizer Inc. also sell drugs for schizophrenia, a condition that causes delusions and paranoia. Drugs to treat psychiatric disorders generate $5 billion to $6 billion in annual sales, according to analysts.
Britain-based AstraZeneca’s shares fell 21 cents to $34.88 on the NYSE.
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