) has a strong presence in the diabetes care market. The company
has identified five growth platforms, which include its diabetes
franchise. The company has stepped up levels of investment in
this area. The company has several diabetes products including
Onglyza and Forxiga (both are approved for type II diabetes).
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The company has collaborated with
Bristol-Myers Squibb Company
) for diabetes candidates/products. Apart from working on label
expansion of Onglyza and Forxiga, the company is also focused on
advancing its diabetes candidates.
In Nov 2013, AstraZeneca and Bristol-Myers announced that their
diabetes candidate, Xigduo, has received a positive opinion from
the European Medicines Agency's Committee for Medicinal Products
for Human Use (CHMP). We note that Xigduo is a fixed dose
combination of Forxiga and metformin hydrochloride.
The CHMP recommended approval of the candidate as an adjunct to
diet and exercise to improve glycemic control for adults
suffering from type II diabetes, who have shown inadequate
treatment benefit to the metformin-based treatment regimen.
Patients on Forxiga and metformin, as separate tablets, can also
Although AstraZeneca holds a strong position in the diabetes
market, we note that the market is highly crowded with players
AstraZeneca, a large cap pharma company, carries a Zacks Rank #3
(Hold). Although we are pleased with the pipeline advancement at
AstraZeneca, we remain concerned as generic competition has
adversely impacted its revenues over the past few quarters. This
has put significant pressure on the company. AstraZeneca is
looking toward cost-cutting initiatives to drive the bottom line
in the face of genericization.
Some better-ranked stocks in the large cap pharma space include
), which carries a Zacks Rank #2 (Buy).