The prospects for an AstraZeneca diabetes drug receiving a major new indication are looking even brighter.
This week, the company announced that its diabetes treatment, Farxiga, has received a fast track designation from the FDA for a possible heart failure indication. The new designation was partially based on a late-stage trial showing that for patients who suffered reduced ejection fraction heart failure, the drug reduced the rate of death or worsening heart failure by 26 percent. News of the phase 3 trial results from earlier this month also sent AZ shares soaring to all-time highs.
Farxiga belongs to a class of SGLT2-inhibitors that help regulate blood sugar levels by expelling it through urine.
The drug is already one of AZ’s top sellers and pulled in $1.39 billion in sales last year. Analysts have noted that an expanded indication for heart failure would open provide an additional $1-4 billion in market opportunity for the drug.
Read the full Reuters report.