Greg Rossi, senior vice president of oncology in Europe and Canada at Anglo-Swedish drugmaker AstraZeneca, expressed to CNBC that the recent trio of lung cancer advancements heralded by the company signifies a favorable outcome for its ongoing strategy.
“It shows our strategy is delivering around our portfolio, around the idea of going early where we can have the potential for cure, has the opportunity of really having patient benefit,” Rossi articulated.
“The portfolio approach of trying to have a medicine for all lung cancer patients, regardless of stage of disease, is now coming to fruition,” he supplemented.
AstraZeneca announced that a trial of its premier cancer medication, Tagrisso, demonstrated “overwhelming efficacy” in a specific type of lung cancer treatment.
Simultaneously, the U.S. Food and Drug Administration has approved Tagrisso’s application to treat a form of lung cancer and has initiated the review process for another medication, Dato DXd, intended for lung cancer treatment.
In the wake of these developments, AstraZeneca’s shares saw a 3% uptick in afternoon trading.
Elsewhere, the approval of AstraZeneca’s blockbuster cancer drug Tagrisso for use alongside chemotherapy in treating a type of lung cancer prompted a 3.4% rise in the company’s shares in early trading on Monday.
Meanwhile, shares of German IT company Bechtle experienced a 3% decline after Barclays assigned it an “underweight” rating, citing limited profit prospects for the current year.
