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Shares of AstraZeneca Plc fell 4.5% in London after a study of a new cancer drug fell short of analysts’ expectations.
According to Jefferies, the data suggests the benefit is less pronounced than hoped. In addition, some deaths emerge, fueling safety concerns.
AstraZeneca has agreed to pay up to $6 billion for the right to develop the medicine with Daiichi Sankyo.
According to Jefferies estimates, the treatment could generate $18 billion in sales.