AstraZeneca outlook

AstraZeneca and Pozen announced Monday that their pain reliever Vimovo for the treatment of arthritis had received positive agreement for approval by the 23 E.U. nations. Vimovo is a combination drug that reduces the risk of ulcers for frequent NSAID users.

AstraZeneca's core earnings per share rose 9% in the second quarter, helped by a strong performance in emerging markets. While the British pharmaceutical warned the rest of the year will be "challenging," it also raised its 2010 earnings forecast for the third time this year.