Drug Development

Astra Zeneca Misses Study Target – Shares Fall

The pharmaceutical company Astra Zeneca did not meet its primary endpoint in a study of the drug Wainua for a rare heart disease.

A phase 3 study conducted together with Ionis Pharmaceuticals shows that the drug Wainua did not meet its targets in treating heart problems in patients suffering from the rare transthyretin amyloidosis – also known as Skellefteå disease.

The share fell 7.4 percent on the Stockholm Stock Exchange.

Analyst on Astra's Race: Coming from a Strong Period

The pharmaceutical company Astra Zeneca is falling heavily on the stock market after the company failed to achieve primary goals in a study with the drug Wainua for a rare heart disease.

Johan Unnerus, a pharmaceutical analyst at SB1 Markets, tells DI that the large price reaction should be seen in light of the fact that the company is coming from a strong period with few setbacks in terms of studies.

- You probably have to see it in light of the fact that the company is relatively highly valued compared to comparable companies, says Johan Unnerus.

Analyst Michael Leuchten at Jefferies estimates that a successful study could have led to additional sales of several billion dollars for Astra. He estimates the value of the market for the treatment at 18 billion dollars, writes Bloomberg.

- The big problem is that Astra is losing credibility, Leuchten tells the news agency.