We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
FDA Expands AstraZeneca's (AZN) Farxiga Label in Pediatric T2D
Read MoreHide Full Article
AstraZeneca (AZN - Free Report) announced that the FDA granted label expansion to its blockbuster drug Farxiga (dapagliflozin) to treat pediatric patients aged 10 years and older with type-2 diabetes (T2D).
Farxiga is now approved as an adjunct to diet and exercise to improve glycemic control in individuals aged 10 years and older with T2D. Prior to this label expansion, the drug was approved for improving glycemic control in adults with T2D.
This latest approval is based on data from the phase III T2NOW study that evaluated the efficacy and safety of Farxiga as an add-on treatment in children and adolescents with T2D. The study achieved its primary endpoint — treatment with Farxiga achieved a significant reduction in A1C (a marker of average blood sugar) after 26 weeks of treatment when compared to the placebo.
An oral SGLT2 inhibitor, Farxiga is already approved by the FDA for heart failure (HF) and chronic kidney disease (CKD) indications in adults.
AstraZeneca’s shares have risen 18.9% year to date compared with the industry’s 20.1% growth.
Image Source: Zacks Investment Research
Such label expansions are likely to help boost AstraZeneca’s top line, which has been experiencing higher product sales across all its therapeutic areas, driven by strong demand growth and market share. Management estimates that around 30,000 patients aged under 20 years are living with T2D in the United States, with 5,300 new cases diagnosed each year.
AstraZeneca generated $1.89 billion from Farxiga sales in the first quarter of 2024, up 45% year over year, reflecting accelerated volume growth compared with the overall SGLT2 inhibitor class in general.
Farxiga is also being evaluated in other label expansion studies. Late-stage studies are ongoing on Farxiga for myocardial infarction. AstraZeneca is also conducting a fixed-dose combination study of an experimental anti-cancer drug (zibotentan) with Farxiga in patients with CKD and high proteinuria.
Farxiga faces stiff competition from Jardiance, another blockbuster oral SGLT2 inhibitor, which is marketed by pharma giant Eli Lilly (LLY - Free Report) . The Lilly drug, which poses a major threat to Farxiga, is already approved in the United States to improve glycemic control in individuals aged 10 years and older with T2D. Apart from T2D, Lilly’s Jardiance is also approved to treat HF and CKD indications.
In the past 60 days, estimates for Arcutis Biotherapeutics’ 2024 loss per share have narrowed from $2.49 to $1.60. During the same period, the loss estimates per share for 2025 have narrowed from $1.77 to $1.14. Year to date, shares of Arcutis have surged 150.8%.
Earnings of Arcutis Biotherapeutics beat estimates in three of the last four quarters while missing the mark on one occasion. Arcutis delivered a four-quarter average earnings surprise of 14.93%.
In the past 60 days, estimates for Heron Therapeutics’ 2024 loss per share have narrowed from 22 cents to 10 cents. During the same period, estimates for 2025 have improved from a loss of 9 cents to earnings of 1 cent. Year to date, HRTX’s shares have appreciated 115.3%.
Earnings of Heron Therapeutics beat estimates in three of the last four quarters while missing the mark on one occasion. HRTX delivered a four-quarter average earnings surprise of 30.33%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
FDA Expands AstraZeneca's (AZN) Farxiga Label in Pediatric T2D
AstraZeneca (AZN - Free Report) announced that the FDA granted label expansion to its blockbuster drug Farxiga (dapagliflozin) to treat pediatric patients aged 10 years and older with type-2 diabetes (T2D).
Farxiga is now approved as an adjunct to diet and exercise to improve glycemic control in individuals aged 10 years and older with T2D. Prior to this label expansion, the drug was approved for improving glycemic control in adults with T2D.
This latest approval is based on data from the phase III T2NOW study that evaluated the efficacy and safety of Farxiga as an add-on treatment in children and adolescents with T2D. The study achieved its primary endpoint — treatment with Farxiga achieved a significant reduction in A1C (a marker of average blood sugar) after 26 weeks of treatment when compared to the placebo.
An oral SGLT2 inhibitor, Farxiga is already approved by the FDA for heart failure (HF) and chronic kidney disease (CKD) indications in adults.
AstraZeneca’s shares have risen 18.9% year to date compared with the industry’s 20.1% growth.
Image Source: Zacks Investment Research
Such label expansions are likely to help boost AstraZeneca’s top line, which has been experiencing higher product sales across all its therapeutic areas, driven by strong demand growth and market share. Management estimates that around 30,000 patients aged under 20 years are living with T2D in the United States, with 5,300 new cases diagnosed each year.
AstraZeneca generated $1.89 billion from Farxiga sales in the first quarter of 2024, up 45% year over year, reflecting accelerated volume growth compared with the overall SGLT2 inhibitor class in general.
Farxiga is also being evaluated in other label expansion studies. Late-stage studies are ongoing on Farxiga for myocardial infarction. AstraZeneca is also conducting a fixed-dose combination study of an experimental anti-cancer drug (zibotentan) with Farxiga in patients with CKD and high proteinuria.
Farxiga faces stiff competition from Jardiance, another blockbuster oral SGLT2 inhibitor, which is marketed by pharma giant Eli Lilly (LLY - Free Report) . The Lilly drug, which poses a major threat to Farxiga, is already approved in the United States to improve glycemic control in individuals aged 10 years and older with T2D. Apart from T2D, Lilly’s Jardiance is also approved to treat HF and CKD indications.
AstraZeneca PLC Price
AstraZeneca PLC price | AstraZeneca PLC Quote
Zacks Rank & Key Picks
AstraZeneca currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the overall healthcare sector are Arcutis Biotherapeutics (ARQT - Free Report) and Heron Therapeutics (HRTX - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 60 days, estimates for Arcutis Biotherapeutics’ 2024 loss per share have narrowed from $2.49 to $1.60. During the same period, the loss estimates per share for 2025 have narrowed from $1.77 to $1.14. Year to date, shares of Arcutis have surged 150.8%.
Earnings of Arcutis Biotherapeutics beat estimates in three of the last four quarters while missing the mark on one occasion. Arcutis delivered a four-quarter average earnings surprise of 14.93%.
In the past 60 days, estimates for Heron Therapeutics’ 2024 loss per share have narrowed from 22 cents to 10 cents. During the same period, estimates for 2025 have improved from a loss of 9 cents to earnings of 1 cent. Year to date, HRTX’s shares have appreciated 115.3%.
Earnings of Heron Therapeutics beat estimates in three of the last four quarters while missing the mark on one occasion. HRTX delivered a four-quarter average earnings surprise of 30.33%.