AstraZeneca boosted by good results for biotech asthma drug
LONDON, May 17 (Reuters) - AstraZeneca (NYSE: AZN - news) 's drive to rebuild its portfolio of new medicines received a boost on Tuesday with positive results for a biotech drug for severe asthma that the company has previously flagged as a potential $2 billion-a-year product.
The antibody treatment benralizumab, which will compete against rivals including GlaxoSmithKline (Other OTC: GLAXF - news) 's recently launched Nucala, was well tolerated and succeeded in reducing asthma attacks in two pivotal late-stage clinical trials.
AstraZeneca said it planned to submit the product for regulatory approval in the United States and Europe in the second half of 2016.
(Reporting by Ben Hirschler; editing by Jason Neely)