AstraZeneca Shares Plummet After Heart Drug Trial Failure
AstraZeneca shares plunged 8.3 percent on Thursday, marking their sharpest single-day decline since November 2024. The sell-off wiped approximately £19bn from the pharmaceutical giant’s market capitalization, triggered by news that its heart treatment, Wainua, failed to meet the primary objective in a late-stage clinical trial.
Clinical Setback for Transthyretin-Mediated Amyloid Cardiomyopathy
The phase 3 trial evaluated Wainua—developed alongside US company Ionis—as a treatment for transthyretin-mediated amyloid cardiomyopathy. This condition, caused by protein accumulation in the heart, affects an estimated 500,000 people.
Trial data revealed the drug “did not provide a statistically significant benefit” in reducing cardiovascular-related deaths when used alongside other medicines that patients were already taking. Sharon Barr, AstraZeneca’s executive vice-president for biopharmaceuticals research and development, acknowledged the miss but noted the findings contribute to the broader scientific understanding of the progressive condition.
Existing Approvals and Revenue Streams
Despite the trial failure, Wainua remains approved in more than 20 countries for treating polyneuropathy associated with hereditary transthyretin amyloidosis. The drug generated $212mn in sales last year.
Investor Skepticism Meets Ambitious 2030 Targets
CEO Pascal Soriot has set a target of $80bn in annual revenue by 2030, a sharp climb from the $58.7bn reported last year. The company is currently halfway through a push to launch 20 new medicines within that window.
Analysts at Jefferies warned the failure could damage management credibility, noting the firm previously held a reputation for designing “mostly watertight” clinical trials. The setback compounds pressure following a US regulatory decision in May to delay a new cancer treatment.
Stalled Access to Enhertu in England
AstraZeneca also confirmed ongoing negotiations with NHS England and the National Institute for Health and Care Excellence regarding pricing for its breast cancer medication, Enhertu. Although approved in the UK, the drug remains unavailable to patients of the public health service outside of Scotland due to these unresolved disagreements. The company stated it is working with the health system to find a way forwards for patients.
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