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Author: Alan LittleDate: 2021-09-21

AstraZeneca (AZN) +3.40% following successful trial for breast cancer treatment

AstraZeneca (AZN) rose on Monday after it revealed news of a successful trial for a drug that can significantly reduce illness for patients with breast cancer.

AstraZeneca (AZN) closed 3.40% up in London after a successful Phase 3 trial for a new treatment for breast cancer showed that it reduced major illness and death by 72%.

The British drugmaker has become synonymous with the rollout of COVID-19 vaccines in the UK and around the world, but it has also been working on drug candidates for other purposes.

The latest trial for a drug that can treat breast cancer was able to demonstrate “superior progression-free survival” among patients with the disease.

AstraZeneca said that the news was very encouraging as there was now evidence of a “high and consistent benefit” for those receiving the drug, which is called Enhertu, when compared to other similar treatments.

Javier Cortés, who works for International Breast Cancer Center, said that Enhertu could possibly emerge as a “new standard of care” for patients in the future.

The positive developments were welcomed by investors as AstraZeneca shares jumped early on the London Stock Exchange.

AZN, which hit a 52-week high of $61 on the Nasdaq in the summer, made gains of 3.40% in London to finish at 8,337.02p.

Meanwhile, in the US, Pfizer (PFE) eased 0.68% higher to $44.19 after the pharmaceutical company shared that giving a smaller dose of the COVID-19 vaccine has been successful on children as young as five.

Pfizer revealed that it demonstrated a “favourable safety profile” while delivering the required “antibody responses”.

This was with a dose around a third smaller than that given to teenagers and young adults in other testing.

Pfizer CEO Albert Bourla said that a rollout was now “subject to regulatory authorization” but that the firm was eager to soon offer protection to children under 12.

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