AstraZeneca PLC’s (LON:AZN) new anaemia treatment was hailed by analysts as “yet another blockbuster drug” following the release of new clinical data on its safety.
Roxadustat is no worse than placebo and safer than the current medicine used to treat anaemia in new-onset dialysis patients, according to new data presented at a US conference at the end of last week.
READ: AstraZeneca to release data likely to move anaemia drug’s sales value by US$3.7bn, analysts say
With the aim of treating patients with chronic kidney disease (CKD) who suffer from anaemia, a condition causing deficiency in red blood cells, the drug is designed to increase the production of a hormone that promotes the formation of these oxygen-carrying cells.
The Anglo-Swedish pharma giant tested patients who are dependent on dialysis and not dependent during phase III trials, with the drug showing efficacy in both.
However, once the data are submitted to US authorities over the fourth quarter, the focus will shift to the safety of the drug in terms of heart conditions.
“This pooled cardiovascular safety data, together with strong efficacy data, support its potential as an important new treatment option for patients with anaemia from chronic kidney disease who have seen little to no innovation in decades,” Robert Provenzano, associate professor of medicine at Wayne State University in Detroit, USA, said in a statement released on Monday.
Analysts at Liberum told clients these results should be enough for regulatory approval, with the drug becoming “yet another blockbuster drug” for the FTSE 100 group, indicating at least US$1bn in annual revenue for the company.
Broker Shore Capital previously said Roxadustat has the potential to add up to US$5bn to AstraZeneca’s annual revenue.