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Swedish boost for Glaxo drug

SHARES IN Glaxo Wellcome, the world's second-biggest drug maker, rose 26p to 1,840p after it said it had won approval for Seretide, its treatment for asthma, in Sweden.

Sweden is the first country to approve the drug and will act as the reference state in the procedure to obtain approval in the European Union. Seretide is the first drug to allow asthma suffers to achieve 24-hour control of the condition with a twice-daily dose from a single inhaler, Glaxo said.