AstraZeneca PLC (LON:AZN) was among the top risers on the FTSE 100 after its blockbuster diabetes drug showed it can reduce the risk of death by heart attack in a late-stage study.
Alongside standard of care, Farxiga was given to patients with reduced ejection fraction (HFrEF), which means their hearts cannot pump enough blood to meet their body’s needs.
In the DAPA-HF study, the drug showed a “statistically-significant and clinically-meaningful” reduction of cardiovascular death or the worsening of heart failure.
READ: AstraZeneca’s Lynparza meets primary endpoint in late-stage ovarian cancer trial
“With the DAPA-HF trial, Farxiga becomes the first in its class to demonstrate efficacy and safety data for the treatment of patients with heart failure, with and without type-2 diabetes, on top of standard of care,” said Mene Pangalos, Executive Vice President, BioPharmaceuticals R&D.
“Today, half of heart failure patients will die within five years of diagnosis and it remains one of the leading causes of hospitalisation. We look forward to discussing the results of DAPA-HF with health authorities as soon as possible.”
Analysts expect Farxiga to generate sales of US$2.5bn by 2024, and today’s results are likely to further support those estimates.
“This [data] will give the drug broad applicability and is strong validation of its utility, particularly in diabetics,” said Liberum analyst Alastair Campbell.
“The result will also reinforce Farxiga's utility in diabetes at a time when [Novo Nordisk’s] oral GLP-1 might enter the market.”
Astra shares rose 1.5% to 7,393p on Tuesday morning.