Regency View:
Update
Two AstraZeneca drugs get EU backing for treatment of some breast cancers
Last week, AstraZeneca (AZN) received the greenlight to market two of their leading cancer drugs in the European Union…
Lynparza, developed with Merck & Co and Enhertu, developed with Japan’s Daiichi Sankyo were recommended for the treatment of some high-risk breast cancers in the EU by The Committee for Medicinal Products for Human Use (CHMP).
In Europe, more than 530,000 cases of breast cancer are diagnosed annually. Approximately one in five cases of breast cancer are considered HER2-positive (HER2 is the cancer-causing protein).
Commenting on the news, Susan Galbraith, Executive Vice President of Oncology R&D at AstraZeneca said:
“This recommendation reflects the transformative progression-free survival benefit seen in the DESTINY-Breast03 trial compared to T-DM1, supporting Enhertu as a potential new standard of care and setting a new benchmark in the treatment of HER2-positive metastatic breast cancer…
If approved by the European Commission, patients in Europe may be able to benefit from this important medicine earlier in the treatment of their disease, improving their chance for better outcomes.”
In separate news, AstraZeneca will add further weight to its world-leading oncology division with the purchase of TeneoTwo and its clinical-stage T-cell engager,
The deal, worth up to $1.27 billion strengthen AstraZeneca’s haematological cancer pipeline.
AZN Daily Candle Chart
Unilever sells Ben & Jerry’s Israeli business to defuse row
Unilever (ULVR) announced last week that it has sold its Ben & Jerry’s ice cream business in Israel to its local licensee for an undisclosed sum, aiming to smooth over a potentially damaging diplomatic row…
The deal comes after Ben & Jerry’s said it would stop marketing products in the occupied Palestinian territories, saying that selling there was “inconsistent” with its values.
Israel condemned the move as “morally wrong” and said Unilever would face “severe consequences”. The consumer goods giant defended Ben & Jerry’s autonomy, but said it was “fully committed” to Israel and would find a solution by the end of this year.
Under the new arrangement, welcomed by Israel, Ben & Jerry’s ice cream will be available to all consumers in Israel and the occupied West Bank.
However, Ben & Jerry’s have since said that it will sue its parent company, Unilever to block the sale of its Israeli business to a local licensee.
The market remained unphased by the news and Unilever’s share price has started to climb higher in recent weeks.
ULVR Daily Candle Chart
