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AstraZeneca slips on Brilinta disappointment

Discussion in 'Market News' started by Lily, Oct 4, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Treatment shows no benefits over rival for circulatory problems in legs

    On a day when leading shares are surging ahead, mainly due to the pound tumbling to a new 31 year low and boosting exporters, AstraZeneca is heading in the other direction.

    Its shares are down 21p at £50.20 after it said its heart drug Brilinta had failed to help patients with circulatory problems in their legs, showing no benefits over an older blood thinning treatment, Sanofi’s Plavix.

    We don’t believe the goal of $3.5bn is attainable. I think it would be unrealistic to believe that.

    This was a study designed to evaluate whether Brilinta offered benefit over Plavix in a new indication, peripheral artery disease, but the result was negative (no benefit over and above Plavix). No impact on existing indications.

    We had only around $200m in our numbers for this indication by 2021 anyway so the impact on earnings is small for us (less than 1%) although others may have been more optimistic.

    The announcement that Brilinta has failed to meet primary end point in the EUCLID trial of benefit over Plavix (clopidogrel) in symptomatic peripheral artery disease is clearly a disappointment as the company looks to flesh out the Brilinta prescribing label post ACS [acute coronary syndrome]; striving to mimic the breadth of indications enjoyed by Plavix (clopidogrel). That being said we continue to forecast Brilinta sales in excess of $1bn this year and maintain our +$2bn sales target for 2018 reflecting its strong position ahead of Plavix in the more important ACS indication.

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