November 16, 2015 10:30 pm
AstraZeneca gains from rival’s trial setback
Bryce Elder Bryce Elder
Clovis Oncology of the US said the number of patients confirmed to be responding to its experimental treatment for lung cancer, rociletinib, was much lower than previously indicated. Its drug has been seen as the main rival of Tagrisso, AstraZeneca’s potential blockbuster, which on Friday unexpectedly won early approval from the US regulator. “Rociletinib now looks likely to be delayed and has a materially inferiorprofileto Tagrisso,” said Deutsche Bank. Deutsche had been forecasting Tagrisso sales of $1bn which it said now looked conservative. Dependent on more trials, the sales opportunity could be as big as $2.5bn to $3bn
In upcoming earnings, Netflix subscriber growth could surpass own forecasts
Mike Snider, USA TODAY 2:05 p.m. EDT October 12, 2015
Stifel's analysts expect shares to rise, advising to buy the stock with a $143 target price.