Astrazeneca has announced two positive cancer drug trials, which helped lift the share price Peter Byrne/PAReassuring results from two lung cancer drug trials helped rebuild confidence in Astrazeneca’s emerging cancer portfolio. The drugmaker was among the biggest risers on the FTSE 100 as investors welcomed details of the studies, unveiled at an oncology congress in Madrid over the weekend. Topline results from the Flaura trial of Tagrisso and Pacific trial of Imfinzi had been released earlier this year, raising expectations. Analysts at Jefferies are forecasting peak sales for Imfinzi of $1.5 billion and about $4.4 billion for Tagrisso. Adding in recent positive data on tezepelumab in asthma raises our midterm earnings per share by about 2 per cent,” the broker said, adding: “Whilst these are positive developments, we remain concerned on earnings…

Source: The Times September 11, 2017 11:03 UTC