AstraZeneca PLC (LON:AZN) has stopped a late-stage trial of its chronic kidney disease treatment as it showed “overwhelming efficacy”.
An independent committee advised the FTSE 100-listed company to halt the studies for Farxiga, which is already under review to treat patients with heart failure.
READ: AstraZeneca posts negative results for late-stage bladder cancer treatment
AstraZeneca will now initiate discussions with global health authorities regarding early regulatory submissions.
In a note to clients, analysts at Shore Capital said they expect Farxiga to generate US$3bn by 2024.
In a separate announcement, the pharma giant also said that its Imfinzi drug has been approved in the US as a first-line treatment for extensive-stage small cell lung cancer, in combination with chemotherapies.
Imfinzi, which has already been approved for other types of cancer, is expected to generate sales of US$2bn this year and grow to US$4bn by 2024.
AstraZeneca shares rose 1% to 6,858p on Monday morning.
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