Astrazeneca shares hit a new high yesterday after US regulators fast-tracked its blockbuster cancer drug Imfinzi.
The pharma giant rose 2.1 per cent, or 264p, to 13.166p – taking its valuation to £202billion.
It came as it said it will get a priority review by the Food and Drug Administration (FDA) for treating certain patients with small cell lung cancer, which is highly aggressive.
Astrazeneca rose 2.1% taking its valuation to £202bn. This week the pharma giant became the first UK firm to be valued at more than £200bn
Imfinzi blocks a cancer tumour’s ability to evade and dampen the immune system, and boosts a body’s anti-cancer immune response, offering an alternative to chemotherapy.
The date for the FDA’s decision is expected during the fourth quarter of 2024.
The update was another boost for Astra, which this week became the first UK firm to be valued at more than £200billion.
The milestone was described as ‘pat on the back’ for chief executive Pascal Soriot, 64, who has been hailed for reviving the fortunes of the company.
He has also pioneered new treatments as Astra provided Covid vaccines and boosted its pipeline of drugs.
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