- Imfinzi gets EU nod for bladder cancer
- First perioperative immunotherapy
- Considering US primary listing
Pharmaceutical giant AstraZeneca (AZN) said the European Union has approved its cancer drug Imfinzi for the treatment of adult patients with (MIBC) muscle-invasive bladder cancer which can be removed by surgery.
The shares ticked-up 9p or 0.1% to £102.1 on the news, taking the year-to-date loss to 4% compared with a 6.4% advance in the blue-chip FTSE 100 index.
The approval by the European Commission is based on results from the NIAGARA phase three trial where Imfinzi demonstrated a statistically significant 32% reduction in the risk of disease progression, recurrence, not undergoing surgery or death, compared with standard of care treatment.
EUROPEAN FIRST
Imfinzi is the first and only perioperative (around the time of surgery) immunotherapy for MIBC.
Dave Fredrickson, executive vice president of AstraZeneca’s oncology haematology business unit, commented: ‘Imfinzi is poised to transform the standard of care for muscle-invasive bladder cancer in Europe as the first and only perioperative immunotherapy for these patients.
‘In the NIAGARA Phase III trial, more than 80 per cent of patients were still alive two years after treatment with the Imfinzi regimen, setting a new survival benchmark for a disease that has seen few treatment advances in decades.’
A MOVE STATESIDE?
This week (3 July) The Times reported that AstraZeneca, the UK’s largest listed company, was considering upping sticks and moving its primary listing to the US in response to frustration over UK tax rates and support for the business.
In January, the company cancelled a planned £450 million investment in a vaccine plant in Merseyside after accusing the government of reneging on the previous administration’s offer of financial support.
AstraZeneca generates around 40% of its annual sales in the US, so building its presence on the other side of the pond may shield it from potential tariffs on the pharmaceutical industry.
The company’s move would follow in the footsteps of gambling firm Flutter Entertainment (FLTR) and building materials company CRH (CRH) which have moved their primary listings to the US.
In June cross-border payments firm Wise (WISE) announced plans to move to the US, brandishing another blow to the London Stock Exchange.
