AstraZeneca share price climbs on upbeat immuno-oncology drug data

on Jun 1, 2015
Updated: Oct 21, 2019
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Shares in AstraZeneca Plc (LON:AZN) have gained ground in morning trade in London, outperforming the broader market, after the Anglo-Swedish drugmaker unveiled upbeat data from its immuno-oncology pipeline over the weekend. The news came after the London-listed pharmco announced on Friday that it had inked a deal with Eli Lilly (NYSE:LLY) which will see the two drugmakers cooperate in the field.

As of 09:23 BST, AstraZeneca’s share price had added 1.60 percent to 4,442.50p, as compared with a 0.12-percent advance in the benchmark FTSE 100 index. The pharmco’s shares have added about four percent over the past year.
AstraZeneca announced in a statement on Saturday that it had presented ‘encouraging results’, along with its R&D arm MedImmune, from their combination-focused immuno-oncology portfolio at the American Society of Clinical Oncology’s Annual Meeting. Among the highlights of the data presented was the combination of two compounds, MEDI4736 and tremelimumab, which showed clinical activity and tolerability among certain types of patients with non-small cell lung cancer.
“The maturing data presented today on the combination of MEDI4736 and tremelimumab are truly exciting,” MedImmune’s senior vice president Dr. Ed Bradley said in the statement, adding that the company was “starting to see the potential of combination therapy become a reality”.
Immuno-oncology is a key development area for AstraZeneca, with the company having labelled the field as ‘potentially transformational’. Last week, the Anglo-Swedish group inked a collaboration deal in the area with US drugmaker Eli Lilly which will see the two companies collaborate on evaluating the safety and preliminary efficacy of AstraZeneca’s MEDI4736 compound in combination with Eli Lilly’s ramucirumab. The planned study is intended to assess the combination as a treatment for patients with advanced solid tumours. Under the terms of the agreement, the trial will be sponsored by Lilly. The companies, however, did not disclose additional financial details of the deal.
As of 19:46 BST, Monday, 01 June, AstraZeneca plc share price is 4,366.50p.

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