Deals
AstraZeneca Fails to Win Advisers Backing for Cancer Drug
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AstraZeneca Plc, the drugmaker that rejected a $117 billion takeover offer from Pfizer Inc., failed to win the backing of U.S. advisers for an ovarian cancer treatment the company has resurrected for certain patients.
AstraZeneca should complete a study meant to confirm olaparib’s benefit before the Food and Drug Administration considers approving the drug, agency advisers voted 11-2 today. While the London-based company scrapped plans for the drug in 2011, it revived olaparib after deciding to reanalyze data on patients with a hereditary mutation of the BRCA genes.