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AstraZeneca

AstraZeneca rises as Brilinta medicine meets goal in Phase III clinical trial

The company said during the trial Brilinta, when taken in conjunction with aspirin, had shown “a statistically-significant reduction” in major adverse cardiovascular events, such as heart attacks or strokes, compared to taking aspirin alone

Clinical Trial
The trial, which began in early 2014, involved 19,000 patients across 42 countries

FTSE 100 drug giant AstraZeneca PLC (LON:AZN) shares moved up in early afternoon Monday after its Brilinta treatment met its primary endpoint in a Phase III clinical trial.

The company said during the trial Brilinta, when taken in conjunction with aspirin, had shown “a statistically-significant reduction” in major adverse cardiovascular events, such as heart attacks or strokes, compared to taking aspirin alone.

READ: AstraZeneca posts first rise in annual product sales for almost ten years

The trial, which began in early 2014, involved 19,000 patients suffering from coronary artery disease and type-2 diabetes across 42 countries.

Brilinta is one of Astra’s most important medicines having generated around US$1.6bn in sales 2018, 6% of its overall product total for the year.

In a note to clients, analysts at broker Shore Capital retained their ‘Buy’ rating on the stock, saying consensus forecasts saw Brilinta generating US$1.8bn in sales by 2023.

The broker added that the companies “strong growth” was underpinned by several on-market products, including Brilinta, and that the results from the trial confirmed their confidence in the commercial potential of the drug.

Shares were up 1.2% at 6,232p.

Quick facts: AstraZeneca

Price: £71.27

Market: LSE
Market Cap: £93.5 billion
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