NEW YORK (Reuters) Jul 30 - European regulators have approved a breakthrough new medication to help patients emerge far more quickly from anesthesia than existing treatments, the drug's maker Schering-Plough Corp said on Tuesday. The drug, called Bridion, was approved by the European Commission, following a recommendation last month by an advisory panel in support of the drug, also known as sugammadex. Bridion was approved for reversal of neuromuscular block induced by rocuronium and vecuronium. The medicine is awaiting approval in the United States. An advisory panel to the U.S. Food and Drug Administration in March voted that it was safe and effective. In a late stage clinical trial, Bridion reversed the effects neuromuscular blockade within a few minutes -- nine to 12 times faster than the standard reversal agent, neostigmine, according to researchers