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AstraZeneca serves up a double dose of good news

It said the US regulator had granted a priority review for its new cancer treatment and told investors a phase III trial of its diabetes medication delivered impressive results

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The medicine appears to be working for AZ

The drug giant AstraZeneca (LON:AZN) delivered a double dose of good news.

It said the US regulator had granted a priority review for its new cancer treatment and told investors a phase III trial of its diabetes medication delivered impressive results.

READ: AstraZeneca confirms full-year guidance; CEO says results mark an important milestone

AZ said Lynparza, which it jointly developed with Merck, is being put forward as a front-line treatment for BRCA-mutated ovarian cancer.

If approved it would be the fourth indication for the tablet, which is a new form of cancer combatant called a PARP inhibitor.

Meanwhile, a final-phase clinical study showed its drug candidate Farxiga significantly reduced hospitalisation for heart failure and incidents of cardiovascular death in people assessed who had type-2 diabetes.

“These positive results are clinically relevant to the 425mln people worldwide living with diabetes, of whom those with type-2 diabetes have two-to-five times greater risk of heart failure along with an increased risk of a heart attack or stroke,” said Elisabeth Bjork, AZ’s head of cardiovascular.

Quick facts: AstraZeneca

Price: 7387 GBX

LSE:AZN
Market: LSE
Market Cap: £96.91 billion
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