AstraZeneca receives approval for bipolar drug

AstraZeneca receives European regulatory approval for new version of bipolar disorder drug

Pharmaceutical company AstraZeneca PLC said Thursday European regulators have approved a new version of its bipolar disorder drug Seroquel.

The drug company said a once-daily formulation, Seroquel XR, has been approved by the European Mutual Recognition Procedure for new indications in bipolar disorder and moderate to severe manic episodes in bipolar disorder.

Bipolar disorder causes dramatic mood swings, from deep depression to manic highs. AstraZeneca shares rose 1.7 percent to close at 2,837 pence ($41.55) in London.