AstraZeneca PLC (AZN.LN) said Friday that the U.S. Food & Drug Administration agency has approved its Lynparza drug for treatment of patients with metastatic breast cancer.
The biopharmaceutical company said Lynparza reduced the risk of disease progression or death by 42% compared with standard chemotherapy in clinical trials. The authorization is the third indication approved for Lynparza in the U.S., where it is already used to treat ovarian cancer.
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AstraZeneca said that as part of its oncology collaboration with Merck & Co. Inc. (MRK) it will receive $70 million in externalization revenue following the new approval. The agreement sees AstraZeneca potentially eligible for over $6 billion in externalization revenue in the form of sales and approval-related payments, said the company.
AstraZeneca shares at 1619 GMT were up 13 pence, or 0.3%, at 5,145 pence.
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(END) Dow Jones Newswires
January 12, 2018 11:46 ET (16:46 GMT)