AstraZeneca shares soar as company announces new wonder drug for terminally ill patients | Science | News

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The Anglo-Swiss pharmaceutical giant has announced that its drug used in combination with common hormone therapy has shown impressive results in phase three trials. Lynparza (also called olaparib) has been combined with abiraterone and has been shown to reduce the risk of disease progression by 34% compared to normal standard of care. Since that announcement, AstraZeneca shares have climbed 5% to £88.46 just after the London market closed.

It comes after Astrazeneca raised its dividend for the first time in 10 years this week after posting record sales of Covid vaccines.

The company’s revenue soared 41% to £27.5billion last year, with a nearly £3billion boost in sales thanks to its COVID-19 jab made with scientists from around the world. University of Oxford.

According to analysts at Jefferies, the success of clinical trials for prostate cancer has the potential to generate significant profits.

They claimed that of the 30,000-50,000 cancer patients in the US, there is a “significant business opportunity” of £2.2-3.7 billion in sales.

Susan Galbraith, Executive Vice President of Oncology R&D at AstraZeneca, said, “This combination of Lynparza has the potential to provide frontline patients with more time without disease progression while maintaining their quality of life.

The drugs were reportedly well tolerated.

This means that patients could retain their quality of life, which is often affected when undergoing new cancer treatments.

The phase III study was carried out by a team from the Center hospitalier de l’Université de Montréal.

It is scheduled to be presented at the American Society of Clinical Oncology Genitourinary Cancer Symposium on Thursday, February 17.

Fred Saad, principal investigator of the trial, said: “It is clear to me that the prognosis for metastatic castration-resistant prostate cancer (mCRPC) is extremely poor and that many patients can only receive a single effective treatment line.

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In the UK, one in eight people are diagnosed with the disease in their lifetime.

Prostate Cancer UK says the disease kills more than 11,500 lives each year.

It is the most common cancer in men in the UK and the second most common cancer in the world.

But Cancer Research says more than 8 in 10 patients now survive the disease for 10 years or more.

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