| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
AstraZeneca Plc’s (NASDAQ:AZN) Chief Executive Pascal Soriot has called on the U.K. government to reconsider its approach to funding new medicines.
The update comes after the National Institute for Care and Excellence (NICE) deemed the company’s new cancer drug, Enhertu, too expensive.
Enhertu may not be available for treating a form of advanced breast cancer in England due to NICE’s decision.
Soriot, while not committing to lower prices, emphasized the need for the new government to review how medicines are assessed.
A course of Enhertu treatment costs £117,857 (roughly $151,695) at the list price, though the NHS can access a discounted rate.
Despite being available in Scotland, NICE’s rejection highlights concerns within the pharmaceutical industry about the U.K.’s drug pricing compared to other leading economies.
The high cost of innovative treatments like Enhertu is putting pressure on healthcare systems to justify their expenses. Enhertu, developed in partnership with Japan’s Daiichi Sankyo, is an antibody-drug conjugate combining an antibody targeting cancer cells with a toxic compound to kill them.
Enhertu has shown significant results, providing patients with an additional five months without cancer progression compared to chemotherapy.
NICE has approved Enhertu for advanced HER2-positive breast cancer but did not approve it for the more common HER2-low breast cancer, citing uncertainty about its benefits over standard treatments.
Despite a draft decision in March, NICE is unlikely to change its stance.
NHS England expressed disappointment with the pricing strategies, while breast cancer charities are advocating for more negotiations.
Citing Soriot, the Financial Times report attributed the decision to changes in NICE’s methodology in 2022, which he claims have disadvantaged advanced cancer therapies. He warned that the new guidelines could also impact other treatments and influence future investment decisions in the U.K.
Despite these challenges, AstraZeneca reported robust sales growth across its drug portfolio in the first half of the year, with Enhertu product sales of $932 million and alliance revenues of $683 million.
Price Action: AZN stock is up 0.25% at $78.72 at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
Image by Robert Way via Shutterstock
Posted In: AZN
