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

ASTRAZENECA

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AstraZeneca : U.S. FDA approves AstraZeneca diabetes drug for treating heart failure risk

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10/21/2019 | 03:06am EST
FILE PHOTO: A man walks past a sign at an AstraZeneca site in Macclesfield

(Reuters) - AstraZeneca diabetes drug Farxiga has been approved for use in the United States as a treatment to reduce the chances of hospitalisation for heart failure in adults with type-2 diabetes and other cardiovascular risks, the British drugmaker said on Monday.

The approval by the U.S. Food and Drug Administration is based on results from the DECLARE-TIMI 58 clinical trial, the London-listed company said, and follows a similar approval https://www.astrazeneca.com/media-centre/press-releases/2019/forxiga-label-updated-in-the-eu-in-type-2-diabetes.html by the European authorities in August.

Farxiga is the first of its class to be approved in the United States for this indication, Ruud Dobber, executive vice president of BioPharmaceuticals at AstraZeneca said.

"This is promising news for the 30 million people living with type-2 diabetes in the United States, as heart failure is one of the earliest cardiovascular complications for them, before heart attack or stroke," Dobber said.

Farxiga, already approved as a treatment for type-2 diabetes, is part of the SGLT2-inhibitor class of antidiabetics that cause the kidneys to expel blood sugar from the body through urine.

Diabetes is often associated with a high risk of heart failure, a condition in which the blood-pumping organ does not circulate blood as well as it should.

The treatment, one of AstraZeneca's top 10 drugs by sales, had shown promise in reducing the risk of heart attacks or disease progression in patients with the HFrEF subtype of heart failure, accounting for about half of heart failure cases.

The FDA has already placed Farxiga under speedy reviews to treat some kinds of heart failure and kidney failure.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Arun Koyyur)

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Financials (USD)
Sales 2019 24 471 M
EBIT 2019 6 592 M
Net income 2019 2 125 M
Debt 2019 11 723 M
Yield 2019 3,00%
P/E ratio 2019 55,8x
P/E ratio 2020 37,4x
EV / Sales2019 5,49x
EV / Sales2020 4,99x
Capitalization 123 B
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