Join our community of smart investors

AstraZeneca gains US drug approval

The cancer treatment is forecast to generate over $1bn of sales in the next 18 to 24 months
February 20, 2018

AstraZeneca’s (AZN) hotly anticipated drug Imfinzi has been given the go-ahead for use in lung cancer patients in the US. The approval makes it the first treatment to use patients’ own immune system to fight stage three lung cancer, meaning it should enjoy several months of uncontested sales. Knutt Slaten, senior analyst at credit rating agency Moody’s, thinks “the drug stands a good chance of achieving sales in excess of $1bn (£710m) over the next 18 to 24 months”, thanks to its period of exclusivity.

IC TIP: Buy at 4713p

The approval comes after data from the group’s long-term Pacific clinical trial found that the drug halted the progression of lung cancer by 11.2 months compared with 5.6 months for the placebo treatment. The trial is still ongoing to assess whether Imfinzi can help prolong survival.