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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  AstraZeneca plc    AZN   GB0009895292

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AstraZeneca plc : AstraZeneca and Bristol-Myers Squibb resubmit dapagliflozin New Drug Application for the treatment of type 2 diabetes in the U.S

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07/25/2013 | 02:26pm CET

AstraZeneca and Bristol-Myers Squibb today announced they have resubmitted to the U.S. Food and Drug Administration (FDA), a New Drug Application (NDA) for dapagliflozin for the treatment of adults with type 2 diabetes.

The NDA resubmission, which is pending acceptance by the FDA, includes several new studies and additional long-term data (up to four years' duration) from previously submitted studies.

NOTES TO EDITORS About dapagliflozin

Dapagliflozin, an investigational compound, is a selective and reversible inhibitor of sodium-glucose cotransporter 2 (SGLT2), which works independently of insulin. It is currently approved for the treatment of type 2 diabetes in the European Union, Australia, Brazil, Mexico and New Zealand.

About Type 2 Diabetes

In 2012, diabetes was estimated to affect more than 370 million people worldwide. The prevalence of diabetes is projected to reach more than 550 million by 2030. Type 2 diabetes accounts for approximately 90 to 95% of all cases of diagnosed diabetes in adults. Type 2 diabetes is a chronic disease characterised by insulin resistance and dysfunction of beta cells in the pancreas, leading to elevated glucose levels. Over time, this sustained hyperglycemia contributes to further progression of the disease. Significant unmet needs still exist, as many patients remain inadequately controlled on their current glucose-lowering regimen.

About AstraZeneca

AstraZeneca is a global, innovation-driven biopharmaceutical business that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology, infection and neuroscience diseases. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide.www.astrazeneca.com

CONTACTS Media Enquiries

Esra Erkal-Paler +44 20 7604 8030 (UK/Global)
Vanessa Rhodes +44 20 7604 8037 (UK/Global)
Ayesha Bharmal +44 20 7604 8034 (UK/Global)
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Jacob Lund +46 8 553 260 20 (Sweden)

Colleen Proctor + 44 207 604 8128 mob: +1 302 357 4882
Ed Seage + 44 207 604 8125 mob: +1 302 373 1361

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Financials ($)
Sales 2016 22 702 M
EBIT 2016 6 322 M
Net income 2016 2 500 M
Debt 2016 11 356 M
Yield 2016 4,94%
P/E ratio 2016 27,54
P/E ratio 2017 27,33
EV / Sales 2016 3,54x
EV / Sales 2017 3,76x
Capitalization 69 032 M
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Number of Analysts 30
Average target price 64,4 $
Spread / Average Target 14%
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Pascal Soriot Chief Executive Officer & Executive Director
Leif Valdemar Johansson Non-Executive Chairman
Pam P. Cheng Executive VP-Operations & Information Technology
Marc Dunoyer Chief Financial Officer & Executive Director
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