Failed to create component 'AxHost' for Visio Drawing control 12.0 while droping on winform in VS 2012

Failed to create component 'AxHost' for Visio Drawing control 12.0 while
droping on winform in VS 2012

I am getting this error below when dropping Visio drawing control 12.0 on
winform (VS 2012 premium , Windows 7 OS).Prior to this I added COM
component to Toolbox it was added successfully in controls tab.
Failed to create component 'AxHost'. The error message follows:
'System.Runtime.InteropServices.COMException (0x80004005): Error HRESULT
E_FAIL has been returned from a call to a COM component.
at
System.Windows.Forms.Design.DocumentDesigner.AxToolboxItem.CreateComponentsCore(IDesignerHost
host)
at System.Drawing.Design.ToolboxItem.CreateComponentsCore(IDesignerHost
host, IDictionary defaultValues)
at System.Drawing.Design.ToolboxItem.CreateComponents(IDesignerHost host,
IDictionary defaultValues)
at System.Windows.Forms.Design.OleDragDropHandler.CreateTool(ToolboxItem
tool, Control parent, Int32 x, Int32 y, Int32 width, Int32 height, Boolean
hasLocation, Boolean hasSize, ToolboxSnapDragDropEventArgs e)'
The same is working on VS 2010 express edition.