AstraZeneca shares lift as investors cheer positive drug trials
UK drugs giant AstraZeneca has cheered positive results from two separate cardiovascular drug trials.
Shares in the FTSE 100 firm lifted higher in early trading on Monday after it revealed it has made progress with two treatments intended to prevent cardiovascular problems such as heart attacks.
This is the latest positive news for the firm, which has seen its share value continue to jump in recent months due to strong recent test results.
The pharmaceutical firm said phase three trials of its treatment Brilinta revealed that, alongside aspirin, it reduced the relative risk of cardiovascular death, heart attack or stroke by 10% compared with aspirin alone in patients with coronary disease and type 2 diabetes.
The study also highlighted a 15% risk reduction for cardiovascular issues among patients who had previously had procedures to open a blocked coronary artery.
AstraZeneca said it intends to work with regulatory authorities to explore an update to the Brilinta label based on the new test results.
In a separate announcement, the firm said that phase three trials for its diabetes drug Farxiga also showed positive results for patients with heart and cardiovascular problems.
Farxiga reduced the incidents of cardiovascular death and worsening of heart failure among patients with “reduced ejection fraction”, for both patients with and without type 2 diabetes, it said.
It also noted that Farxiga study results showed a 30% decrease in the risk of experiencing a first episode of worsening heart failure and an 18% decrease in risk of dying from cardiovascular causes.
Shares in the company were up 2.4% to 7,494p in early trading.