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BUZZ-AstraZeneca: top FTSE 100 gainer on lung cancer drug hopes

Reuters - UK Focus

** AstraZeneca (NYSE: AZN - news) top FTSE 100 gainer, up 0.6% in sharply lower market, after Jefferies calls out multibillion-dollar potential of durvalumab plus tremelimumab combination immunotherapy in lung cancer

** Price target upgraded to £58 a share from £54

** Broker (4 stars for recommendation accuracy on AZN, per StarMine) sees up to 39% upside for shares if closely watched MYSTIC clinical trial hits its goal vs 10% downside if it fails. Results from MYSTIC expected any time from February 2017

** Success could drive peak annual sales opportunity for durvalumab and tremelimumab of around $7.9 bln in non-small cell lung cancer (NSCLC), with more potentially from other combinations and adjuvant NSCLC, Jefferies says (Other OTC: UBGXF - news)