AstraZeneca's Benralizumab Encourages in Phase II Study
AstraZeneca (AZN) announced that data on its respiratory disease candidate, benralizumab, was published in The Lancet Respiratory Medicine. The data was from a phase IIb study which evaluated the use of benralizumab in patients suffering from severe eosinophilic asthma that remained uncontrolled despite the use of medium or high dose inhaled corticosteroids and long-acting beta agonists for at least one year, and who had experienced at least two exacerbations in the past year.
The study met the primary endpoint. A statistically significant reduction in the asthma exacerbation rate was observed in the benralizumab arm as compared to placebo over a one-year period. Additionally, benralizumab showed improvements in lung function and asthma control.
The study found that benralizumab reduced asthma exacerbations by approximately 40%–70% based on dose and baseline blood eosinophil levels. The candidate was found to be effective in reducing the blood eosinophil count to low levels after the first dose.
We note that benralizumab is currently in phase III development for both chronic obstructive pulmonary disease (:COPD) and severe and uncontrolled asthma. AstraZeneca has in-licensed the drug from Kyowa Hakko Kirin Co., Ltd. in all countries except Japan and certain other Asian countries.
The company has high hopes on benralizumab and expects the drug to generate peak sales of $2 billion. We believe AstraZeneca’s experience in marketing products like Symbicort and Pulmicort in this area should prove beneficial if and when benralizumab receives approval.
Currently, the asthma market is heavily crowded with the presence of several companies including GlaxoSmithKline (GSK).
AstraZeneca carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the health care sector include Medivation, Inc. (MDVN) and Ligand Pharmaceuticals Inc. (LGND). Both carry a Zacks Rank #1 (Strong Buy).
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