AstraZeneca: R&D success could drive growth - CS
Credit Suisse names AstraZeneca (NYSE:AZN) one of its potential surprise stocks for 2017, noting that high R&D success in a year of strong pipeline news flow - including the initial outcome of the MYSTIC lung cancer study - would drive the company faster to underlying growth.
Pipeline news expected in 2017, aside from MYSTIC, includes extending Lynparza to breast cancer, and extending Tagrisso to early-stage lung cancer. Outside oncology, there's roxadustat (anemia) and tralokinumab (severe asthma). We should also see the initial approval of durvalumab in bladder cancer.
Success in all projects currently weighted above 50% would mean AZN trades today at an 18% discount on EV/NPV.
April 5 Essa Pharma Inc:
* Essa Pharma receives US$1.2 million grant payment from Cancer Prevention Research Institute of Texas
* Essa Pharma - payment is part of total non-dilutive grant of $12.0 million originally awarded in July 2014, is repayable out of potential future product revenues Source text for Eikon: Further company coverage: