FDA rejects AstraZeneca’s Axanum

The FDA has declined to approve AstraZeneca's (NYSE: AZN) Axanum, a combination of aspirin and esomeprazole, the main ingredient in the blockbuster drug Nexium. The drug is an experimental treatment for the prevention of ulcers. Additionally, the FDA issued a complete response letter for Nexium for reducing the risk of low-dose aspirin-associated peptic ulcers. It's a setback for AstraZeneca, which is attempting to extend Nexium's usage before the $5 billion-a-year drug...