AstraZeneca PlcAZN announced positive top-line results from a phase III study evaluating its investigational triple combination therapy PT010 for the treatment of chronic obstructive pulmonary disease (COPD).
PT010 is a combination of budesonide, an ICS with glycopyrronium, a long-acting muscarinic antagonist (LAMA) and formoterol fumarate, a LABA therapy.
PT010 is being developed by delivering AstraZeneca's Aerosphere Delivery Technology.
The KRONOS study compared PT010 to dual combination therapies - Bevespi Aerosphere, (Symbicort Turbuhaler, and PT009). The company will present the KRONOS trial results at a forthcoming medical meeting.
The study demonstrated PT010's efficacy in improving lung function. The study showed significant improvement compared with dual combination therapies in six out of nine lung function primary endpoints. The study was based on forced expiratory volume in one second (FEV1) assessments in patients with moderate to very severe COPD.
Shares of AstraZeneca have gained 35.2% over a year while the industry registered an increase of 29%.
AstraZeneca expects to make regulatory submissions in Japan and China in the second half of 2018, followed by potential submissions in the United States and Europe in 2019.
Trelegy Ellipta is a combination of fluticasone furoate - an ICS, umeclidinium - a long-acting muscarinic antagonist (LAMA) and vilanterol - a LABA therapy. Trelegy Ellipta will be delivered in Glaxo' Ellipta dry powder inhaler.
Astrazeneca PLC Price
Zacks Rank & Stock to Consider
AstraZeneca has a Zacks Rank #3 (Hold).
A better-ranked stock from the health care space is AbbVie Inc. ABBV carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
AbbVie's earnings per share estimates have moved up from $6.55 to $6.58 for 2018 in the last 60 days. The company delivered a positive earnings surprise in the last four quarters, the average being 1.81%. Share price of the company surged 103.9% over a year.
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