Major setback for AstraZeneca

The pharma giant was banking on a key clinical trial for its cancer drugs. It was a flop. What comes next? asks Alice Gråhns.

AstraZeneca’s effort to gain ground in the market for immune-system-boosting cancer drugs received a setback last week when its trial treatment for lung cancer disappointed in clinical trials. The shares fell 15% on the news, wiping $14bn from AstraZeneca’s value. The trial, named “Mystic”, “was one Astra desperately needed to work”, says Max Nisen on Bloomberg Gadfly. Now, the drugmaker clings to the hope that more-complete data, due next year, will [...]