Pressure on directors as Astra lung cancer drug fails trial
ASTRAZENECA had disappointing news for lung cancer sufferers today, when it revealed that one its blockbuster drugs had failed a trial.
The multinational pharmaceutical and biopharmaceutical giant was hoping a combination of two immunotherapy drugs — Imfinzi and Tremelimumab — would improve survival rates.
However, tests showed the combined medication was no better than chemotherapy.
The drugs were designed to help the immune system kill cancer cells, but a phase-three trial was not successful.
Sean Bohen, AstraZenenca’s executive vice president and chief medical officer, said: “We are disappointed that these results missed statistical significance.”
He said the group is still “confident in Imfinzi” and would “continue to evaluate its potential”.
Chief executive Pascal Soriot said that the company needed to be patient with the drug. The study was one of the most closely watched in the industry, with investors hoping it would demonstrate the worth of the company’s new drug pipeline.
Astra shares dipped by 77p to
6241p, leaving the company valued at £80 billion. The trial ran in 17 countries including the US and Russia.
The directors remain under some pressure, having turned down takeover bid from Pfizer in 2014.