AstraZeneca PLC (AZN) Advances Three Cancer Drugs Into Late-Stage Trials
5/16/2013 7:57:17 AM
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AstraZeneca Plc (AZN) will move three experimental cancer treatments into late-stage development as generic competition for its best-selling drugs intensifies. The U.K.’s second-biggest drugmaker is advancing development of moxetumomab pasudotox for hairy cell leukemia, olaparib for platinum-sensitive relapsed ovarian cancer and selumetinib for non-small cell lung cancer patients with the KRAS genetic mutation, the London-based company said today in a statement. AstraZeneca has narrowed its research focus and cut thousands of jobs to return to growth as patents on its biggest selling medicines expire. The company will concentrate on respiratory, inflammation and autoimmune diseases, cardiovascular and metabolic illnesses, and cancer. It also plans to double the number of experimental treatments in late-stage development by 2016 and expects to file three marketing approval applications by then.
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