AstraZeneca share price: cancer treatment gets seal of approval in Japan
This morning AstraZeneca announced that its lung cancer treatment, Tagrisso has received approval from the Japanese Ministry of Health, Labour and Welfare. The treatment is for the first line treatment of patients with inoperable or recurrent epidermal growth factor receptor (EGFR).
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As of 10.15 BST AstraZeneca’s share price is standing at 5992.00 at 10.13 BST compared to the UK FTSE 100 which is currently down 0.10 per cent at 7583.12 points.
Executive Vice President and Head of the Oncology Business Unit, Dave Fredrickson said the treatment is already approved in Japan for affected patients. He said: “Today’s approval moves the use of Tagrisso to the 1st-line setting, replacing older medicines which, given the high prevalence of the EGFR mutation in Japan, offers an important new treatment option for these patients.”
The approval comes after the result of a trial which included patients from Japan, subsequently published in a medical journal. The FLAURA trial showed ‘superior progression-free survival benefit was consistent across all subgroups including in patients with or without central nervous system (CNS) metacases, an important benefit for lung cancer patients.’
Analysts on AstraZeneca
In July, Bloomberg reported that its newer products were giving the company a lift and helping profits beat the estimates in the second quarter. CEO, Pascal Soriot has also been ‘selling off’ some rights to medicines to ‘bolster the company’s bottom line and support new research. Soriot said in a statement: “Rich pipeline and sharp commercical focus make us confident that we have in place the right conditions for our return to growth this year.” as reported by Bloomberg.
As of 10:24 BST, Tuesday, 21 August, AstraZeneca plc share price is 4,922.25p.