Source: International Business Times
AstraZeneca shares dropped as much as 9% during trading before trimming some losses, putting the stock on track for its worst trading session since the early stages of the COVID-19 pandemic. Reuters AstraZeneca shares fell sharply Thursday after the pharmaceutical giant reported that its experimental use of Wainua failed to achieve the primary endpoint in a late-stage clinical trial for a rare heart disease, marking an unusual setback for one of the industry's most consistent drug developers during a period when healthcare companies continue to navigate investor caution amid geopolitical uncertainty, persistent inflation and ongoing pressure on global healthcare spending. The British drugmaker said Wainua did not significantly reduce cardiovascular deaths or recurrent heart-related events compared with placebo in patients with transthyretin-mediated amyloid cardiomyopathy (ATTR-CM), a progressive disease caused by abnormal transthyretin protein deposits in the heart muscle.
