AstraZeneca Relieved After Clearing From Its Drug ProbeRaymond Billings (Author) Published Date : Aug 24, 2014 05:21 ET
The UK based pharmaceutical firm AstraZeneca is relieved after the US regulators give the no objection to its new heart drug Brilinta which created issues after a controversy created regarding the drug.
And just after the confirmation from the regulators the share price jumped to the best single gaining share at the FTSE 100.
The probe was closed by the US Department of Justice after doing a study by the firm which involved 18000 patients however it was criticized by the medical experts terming as biased.
And after getting the no objection from the authorities the company informed through a statement they informed that there is no other action will be taken by the regulators.
The chief executive of AstraZeneca said, We have always had absolute confidence in the integrity of the trial. As one of AstraZeneca s growth platforms, we are committed to delivering the full potential of this important medicine.
The pharmaceutical company has given to the defence on the bid as Brilinta is one of their prime drugs by the firm.
The share prices of the pharmaceutical company have fallen radically and the rejection of $118 billion offer from the US firm Pfizer back in May.
The share price have jumped after the news of clearing from the issue where 2.8 billion shares have changed hands in the early morning trading at the stock market where the London index gained 0.8 percent rise.
Head of derivatives at Interactive Investor said, With sentiment turning on a sixpence these days the risk of extreme volatility is still keeping many on the sidelines. Investors hoping for a smooth ride in the coming sessions may be left wanting.
AstraZeneca Relieved After Clearing From Its Drug Probe