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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  AstraZeneca    AZN   GB0009895292

ASTRAZENECA

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AstraZeneca : Lynparza gets EU nod as first-line ovarian cancer maintenance treatment

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06/18/2019 | 03:09am EDT
FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the NYSE in New York

(Reuters) - British drugmaker AstraZeneca Plc on Tuesday said its cancer medicine Lynparza was approved as a first-line maintenance treatment for a type of advanced ovarian cancer by the European Commission, following a panel's consent in April.

Lynparza, being jointly developed by AstraZeneca along with U.S. drugmaker Merck & Co, can now be used in patients who are in response following chemotherapy for advanced BRCA-mutated ovarian cancer in Europe, AstraZeneca said.

BRCA genes are responsible for producing proteins which repair damaged DNA, and if the genes are mutated, they can cause cancer growth.

Lynparza belongs to a class of drugs known as PARP inhibitors which keep cancer cells damaged by chemotherapy from repairing themselves. It became the first PARP drug to reach the market with a U.S. approval for ovarian cancer in late 2014.

AstraZeneca has been pushing to build its cancer drug portfolio and Lynparza is an important growth driver for the drugmaker, with analysts pegging the drug to hit $2.5 billion in sales in 2023, according to Refinitiv Eikon data.

Lynparza also helped patients with advanced pancreatic cancer who carry BRCA gene mutations go nearly twice as long without their disease worsening, late-stage clinical trial data from earlier this month showed.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Bernard Orr)

Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA 0.48% 6442 Delayed Quote.9.16%
MERCK AND COMPANY 0.46% 81.98 Delayed Quote.6.78%
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Financials (USD)
Sales 2019 23 679 M
EBIT 2019 6 340 M
Net income 2019 2 426 M
Debt 2019 10 940 M
Yield 2019 3,53%
P/E ratio 2019 42,2x
P/E ratio 2020 31,4x
EV / Sales2019 4,89x
EV / Sales2020 4,43x
Capitalization 105 B
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 83,91  $
Last Close Price 79,56  $
Spread / Highest target 42,7%
Spread / Average Target 5,46%
Spread / Lowest Target -23,6%
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Managers
NameTitle
Pascal Soriot Chief Executive Officer & Executive Director
Leif Valdemar Johansson Non-Executive Chairman
Pam P. Cheng Executive VP-Operations & Information Technology
Marc Pierre Jean Dunoyer Chief Financial Officer & Executive Director
Shriti Vadera Independent Non-Executive Director
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