Biopharmaceutical company, AstraZeneca (LON: ANZ) has this morning announced ‘top-line’ results from trials in patients with the progressive disease, Chronic Obstructive Pulmonary Disease (COPD).
This morning, AstraZeneca share price is standing at 5933.00p down 0.34 percent at 8.23 BST this morning, underperforming the broader market which stands at 7575.75p, up 0.0051 per cent at 8.25 BST.
Results to be discussed further
The 24-week trials were designed to assess the efficacy and safety of Bevespi Aerosphere with umeclidinium in patients with moderate to very severe COPD. In the trial, Bevespi Aerosphere demonstrated non-inferiority to umeclidinium/vilanterol on peak forced expiratory volume in one second (FEV1) but did not demonstrate superiority on peak FEV1 or non-inferiority on trough FEV1’.
Dr Colin Reisner, Head of Respiratory, Global Medicines Development said: “The efficacy and safety of Bevespi Aerosphere has been established by the Phase III PINNACLE trial programme involving more than 5,000 patients. The performance of Bevespi Aerosphere in AERISTO is inconsistent with previous data. A full analysis is underway to understand and characterize these findings and will be presented at a forthcoming medical meeting.”
Bevespi Aerosphere is approved in the US and Canada and is currently under review by the European Medicines Agency – a decision is likely by the end of the year.
At the end of last month, shares in AstraZeneca fell into the red after Jefferies cut its rating on the blue-chip stating that the valuation of the group is ‘too stretched’, as reported in Proactive Investors. The news followed positive second quarter results after experiencing a surge in new medicines.