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FTSE 100 closes in the red as the investor gloom continues
Britain's blue-chip index finished around 45 points lower, or 0.62%, at 7,236 on the day
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LON:AZN
AstraZeneca is one of the world's leading pharmaceutical companies, with a broad range of medicines designed to fight disease. AstraZeneca has over 67,000 empolyees and operates in over 100 countries with growing presence in important emerging markets.
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Britain's blue-chip index finished around 45 points lower, or 0.62%, at 7,236 on the day
AstraZeneca secured a victory in its battle with GSK in its executive tug of war at the last moment - at least for now
The new indication could increase Farxiga's addressable market by 50%
Pascal Soriot said the FTSE 100 giant is particularly interested in firms that specialise in oncology and cardiovascular treatments
The results of the confirmatory assessment mirrored earlier positive data
The US Food & Drug Administration has provided its seal of approval for Enhertu
The Anglo-Swedish drugs giant has hailed Enhertu as as potentially transformational treatment
Instead of dropping by up to a quarter, sales of Vaxzevria will now be flat
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At the close, the UK blue-chip index was up 78.18 points, or 1.1% at 7,423.23, just below the morning peak of 7,441.20 and well above the opening low of 7,345.25
It has received two drug approvals and a priority review
By redirecting the body's natural immune response to target B-cell malignancies, the TNB-486 drug being developed by TeneoTwo could be used alone or in combination, adding a new weapon to AstraZeneca's haematology portfolio
It will file a new drug application later this year
In the longer term, the pharma analysts believe that the drug company “has the potential to build out a platform of antibody-drug conjugates” of which Enhertu is the first
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Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news.
Analysts expected a rally in the pharma group's shares following its critical update on breast cancer drug Enhertu at the ASCO conference this weekend
The pharma group still expects full-year revenue percentage growth in the high teens
According to a phase III trial, patients treated with a combination of tremelimumab and Imfinzi experienced a 22% reduction in the risk of death
Deutsche Bank gave the drug-maker a price target of 11,500p, approximately 10% higher than Tuesday’s closing price
AstraZeneca said it believes Enhertu could become the standard of care for a certain group of lung cancer sufferers for whom there is no targeted treatment
Deutsche Bank has raised its price target on stock in the Anglo-Swedish group