Trial results push AstraZeneca shares higher

The price of shares in FTSE 100 drug giant AstraZeneca (LON:AZN) has risen by 1.87% to 5,942p (as of 14:25 BST) after the company announced results for Phase III trials of its Lynparza treatment. According to the company, twice as many patients on the drug did not see progression of germline BRCA-mutated metastatic pancreatic cancer after two years relative to those using a placebo.

Executive Vice President of Oncology José Baselga commented: “These unprecedented results raise new hope for patients that have seen little progress over a long period of time. From as early as six months after initiation, more than twice as many patients taking Lynparza lived without progression of their disease compared to those on placebo and we are now working with regulatory authorities to bring Lynparza to patients as quickly as possible“.