AstraZeneca soothes sales fears

ASTRAZENECA calmed fears that its new cholesterol-busting drug Crestor might be wobbling, helping the shares firm 24p to 2603p.

Sales of the treatment, which AZ hopes will be its next blockbuster, reached £73m in the first quarter and a market share of 6.2% in the US.

Finance director John Symonds said: 'We are utterly convinced that it's a winner.'

Crestor has run into major controversy over whether it is safe. A US campaign group called Public Citizen wants the drug banned, citing reports of dangerous reactions.

In the UK, the drug was attacked in doctors' magazine The Lancet, prompting an angry rebuff from AZ boss Sir Tom McKillop.

Symonds stressed Crestor has exactly the same safety profile as other cholesterol-lowering treatments.

AZ house broker Merrill Lynch lifted its sales estimates for Crestor £14m to £494m. 'Crestor sales should now gather pace,' it said.