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* EU agency to decide on olaparib in ovarian cancer nextweek
* AstraZeneca sees drug as potential $2 bln-a-year seller
* Expectations rising for company's cancer drug pipeline
By Ben Hirschler
LONDON, Oct 14 (Reuters) - AstraZeneca's cancer drugpipeline, already on a roll following promising clinical trialresults, could get a further boost next week from a Europeangreen light for an experimental medicine against ovarian cancer.
European Medicines Agency experts will consider whether torecommend approval of olaparib at their regular monthly meeting,with a decision expected on Oct. 23 or 24, a company spokeswomansaid.
A positive decision would be a fillip for a product thatAstraZeneca has flagged as a potential $2 billion-a-year sellerbut which hit a road bump in June when a U.S. panel votedagainst its accelerated approval.
Olaparib blocks an enzyme involved in cell repair and isdesigned for patients with certain hereditary gene mutations. Italso has promise in treating breast and gastric cancers, openingup a substantial market opportunity.
In addition, it is being tested in combination therapy, anapproach widely seen as the future of cancer treatment becauseof the need to fight tumour cells on several fronts.
Cancer medicine is central to AstraZeneca's claims that ithas a strong independent future, after fending off a $118billion takeover bid from Pfizer in May.
As part of its defence, the British drugmaker set out abullish set of forecasts for its drug pipeline and predictedthat group sales would climb 75 percent by 2023.
While still seen as ambitious, that upbeat assessment isbeginning to win over more analysts as the company makes goodprogress in its drug development programmes.
Bank of America Merrill Lynch was the latest to trumpetAstraZeneca's drug pipeline on Tuesday, following a glowingreport on its cancer medicines from Jefferies a day earlier.
Most interest is focused on the company's rapidly developingline-up of experimental immunotherapy treatments, which boostthe immune system's ability to fight cancer. Research presentedat a cancer congress in Madrid last month suggests AstraZenecais in a strong position in this field.
Bank of America analysts said the drugmaker's "dramaticpipeline progression" had prompted them to increase peakrisk-adjusted sales forecasts by $16 billion in the past 12months.
A recent move by the U.S. Treasury to curb "inversion" dealsthat allow firms to escape high U.S. taxes by reincorporatingabroad has recently deflated expectations of a renewed Pfizerbid and Bank of America sees only a "low probability" of a deal.
Jefferies, however, believes AstraZeneca remains one of themore viable inversion targets that Pfizer could contemplate. (Editing by Pravin Char)
