AstraZeneca PLC
23 April 2007
AstraZeneca announces decision to discontinue collaboration with AtheroGenics
regarding AGI-1067
AstraZeneca today announced that it has decided to terminate the License and
Collaboration Agreement with AtheroGenics, Inc. (Nasdaq: AGIX), regarding
AGI-1067.
AGI-1067, an investigational anti-atherosclerotic agent, was studied in the
ARISE (Aggressive Reduction of Inflammation Stops Events) phase III clinical
outcomes trial in patients with coronary artery disease (CAD). The initial
results from ARISE were announced by AtheroGenics on 19 March 2007 and presented
at the American College of Cardiology on 27 March 2007.
The decision to terminate the collaboration was reached following a full
analysis of the AGI-1067 product profile in the context of the terms and
conditions of the License and Collaboration agreement.
Provisions for the impairment of intangible assets and associated close down
costs of $83m to be taken in 1Q 2007.
The ARISE study
ARISE was a double-blind, randomised, placebo controlled study which involved
more than 6,000 patients with coronary artery disease from over 250 centres in
Canada, South Africa, the UK and the US. The study was designed to evaluate the
additional benefits of adding AGI-1067 to current standard of care therapies, on
several outcomes due to coronary vascular events such as death, heart attack,
stroke, revascularisation and hospital admission for unstable angina.
AstraZeneca
AstraZeneca is a major international healthcare business engaged in the
research, development, manufacture and marketing of prescription pharmaceuticals
and the supply of healthcare services. It is one of the world's leading
pharmaceutical companies with healthcare sales of $26.47 billion and leading
positions in sales of gastrointestinal, cardiovascular, neuroscience,
respiratory, oncology and infection products. AstraZeneca is listed in the Dow
Jones Sustainability Index (Global) as well as the FTSE4 Good Index.
-Ends-
23 April 2007
Media enquiries:
Patricia O'Connor, Tel: +46 708 46 76 33
Edel McCaffrey, Tel: +44 (0) 207 304 5034
Steve Brown, Tel: +44 (0) 207 304 5033
Investor Relations:
Mina Blair, Tel: +44 (0) 207 304 5084
Jonathan Hunt, Tel: +44 (0) 207 304 5087
Karl Hard, Tel: +44 (0)207 304 5322
Jorgen Winroth, Tel: +1 (212) 579 0506
Ed Seage, Tel: +1 302 886 4065
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.