AstraZeneca Touts Positive Farxiga Data, Seeks Label Expansion In Heart Failure

AstraZeneca Plc AZN laid out the details of the Farxiga's performance in another heart failure patient population at the European Society of Cardiology Congress.
Farxiga (dapagliflozin) led to an 18% reduction in a composite endpoint comprising cardiovascular death or worsening heart failure over a median follow-up of 2.3 years.
In the placebo group, 19.5% of patients either experienced cardiovascular death or worsened heart failure.
Related: AstraZeneca's CEO Says There Are No COVID Regrets, Looks For Oncology Acquisitions.
AstraZeneca also presented a pooled analysis of Phase 3 DELIVER and DAPA-HF trials.
Farxiga reduced the risk of CV death by 14% over a median follow-up of 22 months. The drug reduced death from any cause by 10%.
First and repeat hospitalization was also reduced by 29%.
The data comes from 11,007 patients, the company said.
Farxiga is approved for type 2 diabetes, chronic kidney disease, and certain heart failure patients.
Price Action: AZN shares closed lower by 2.84% at $66.32 on Friday.

Overview Rating:

Speculative

0100