The European Commission has approved Novartis' Entresto drug for the treatment of adult patients with symptomatic chronic heart failure with reduced ejection fraction, the Swiss drugmaker said on Tuesday.

Entresto is the first new drug in decades for helping patients whose lives are in danger because their hearts cannot pump blood efficiently. Analysts estimate it could have annual sales of some $5.4 billion by 2020.

(Reporting by Joshua Franklin; Editing by Maria Sheahan)