Thumbs up for AZ diabetes drug

Anglo-Swedish pharma giant AstraZeneca (AZ) said yesterday, alongside Bristol-Myers Squibb, that Brussels regulators have approved a new treatment, Forxiga, for type 2 diabetes. The news is a boost for the struggling firm after it was dealt a blow by the federal patent court in Germany on Tuesday. The court ruled that a key patent on the anti-psychotic drug Seroquel XR was invalid.