The inventors of the pill – which could be taken daily by everyone over 55 at a cost of about £7 a week – claim it could prevent 80 per cent of heart attacks and strokes among those who use it.
The drug, which combines five individual treatments, has received the backing of Prof Roger Boyle, the Government's national director for heart disease and stroke, who has called for it to be prescribed on the NHS.
Prof Nicholas Wald, the director of the Wolfson Institute of Preventive Medicine, said: "I am delighted we have reached this milestone. Now we want to get it out there so people can use it.
"Our mission is to make this available to everyone over 55 at an affordable price.
''The founders of our group would like this pill to be available to everyone for about £1 a day."
The polypill has been in development for several years. Research published by Prof Wald in 2003 concluded: "The polypill strategy could largely prevent heart attacks and stroke if taken by everyone aged 55 and older and everyone with existing cardiovascular disease.
''It would be acceptably safe and, with widespread use, would have a greater impact on the prevention of disease in the western world than any other single intervention."
The paper added that a third of people taking the drug would benefit, gaining an extra 11 years of life on average.
More than 130,000 people suffer a stroke in Britain every year, half of whom die.
Heart attacks affect up to 230,000 people each year, claiming the lives of 30 per cent of them.
Prof Boyle said the polypill ''would certainly have a big impact''. He added: ''We need to remember that one third of deaths are due to cardiovascular disease, despite substantial reductions over the past few years."
The polypill comprises a cholesterol-reducing statin, three types of medicine to lower blood pressure and a folic acid that reduces levels of an amino acid implicated in heart attacks and strokes.
Clinical trials have established that the individual ingredients prevent heart attacks and strokes, so the combined pill would only require small-scale trials to ensure it behaves in the same way.
The inventors can then apply for a licence in Britain, leading to the pill becoming available within two years.
It will be made by Cipla, one of India's largest pharmaceutical companies.