By Pushkala Aripaka and Nithyashree R B
March 27 (Reuters) – AstraZeneca’s experimental drug tozorakimab reduced flare-ups of chronic obstructive pulmonary disease in two late-stage trials, sending its shares up as much as 3.8% on Friday on investor hopes of blockbuster gains if the therapy is approved.
The respiratory treatment met the main goal in the two clinical studies, and reduced the annualised rate of moderate-to-severe COPD flare-ups versus a placebo, the drugmaker said.
Shares in AstraZeneca, Britain’s most valuable listed company, were among the biggest percentage gainers on the benchmark FTSE-100 index and were up 3.2% by 0945 GMT after what Jefferies analysts called “a positive surprise”.
‘HIGHLY CLINICALLY MEANINGFUL’ REDUCTION
Tozorakimab showed the “highly clinically meaningful” reduction in the primary trial group of former smokers and in the overall study population, which included current and former smokers with varying levels of lung damage and count of a type of white blood cell.
COPD is a chronic condition that causes restricted airflow and breathing problems. While tobacco smoke is a major trigger, fume inhalation, chemicals and dust in many working environments can also cause onset.
The disease is the fourth-leading cause of death worldwide, according to the World Health Organization.
RIVAL TREATMENTS HAVE HAD MIXED RESULTS
AstraZeneca said its drug offers the potential to reduce inflammation and disrupt the cycle of mucus dysfunction that can worsen COPD. Rival treatments from Sanofi-Regeneron REGN.O> and Roche had failed or had mixed results in the past.
Tozorakimab and its rivals belong to a class of treatments called monoclonal antibodies, and work by replicating the body’s defences and suppressing the action of interleukin-33, a protein involved in inflammation.
AstraZeneca has forecast peak annual sales of $3 billion to $5 billion for tozorakimab. It hopes its more than 20 expected drug launches, along with demand for its cancer drugs, will enable it to achieve its target of $80 billion in annual sales by 2030.
JPMorgan analysts said stronger tozorakimab data could push estimates toward the upper end of AstraZeneca’s forecasts for the drug.
Detailed results from the two studies will be presented at an upcoming medical conference, AstraZeneca said.
The drugmaker is also testing tozorakimab in other trials with varying dosage strengths and regimens, although, as Bank of America analysts noted, AstraZeneca does not need to wait on a higher-dose study data to file for approval.
(Reporting by Pushkala Aripaka and Nithyashree R B in Bengaluru; Editing by Nivedita Bhattacharjee and Barbara Lewis)
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