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The EU approves AstraZeneca's (AZN +0.2%) Lokelma (sodium zirconium cyclosilicate),

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The European Commission approves AstraZeneca’s (AZN +0.2%) Lokelma (sodium zirconium cyclosilicate), formerly known as ZS-9, for the treatment of adults with hyperkalemia (elevated blood potassium).

The approval is a long-awaited breakthrough from the company’s $2.7B takeout of ZS Pharma in 2015.

U.S. approval is the next big opportunity. The FDA issued a second CRL a year ago. The third marketing application has yet to be submitted.