AstraZeneca's £19bn blow as Wainua heart drug fails key late-stage trial

AstraZeneca shares fell 9.55% in early trading, wiping about £19B from the company’s valuation, after its Wainua drug failed a closely watched Phase III trial for a form of heart disease. The failed late-stage readout triggered an immediate sharp repricing versus expectations. The stock became the top FTSE 100 loser on the day.

Analysis

AstraZeneca shares fell 9.55% in early trading, wiping about £19B from the company’s valuation, after its Wainua drug failed a closely watched Phase III trial for a form of heart disease. The failed late-stage readout triggered an immediate sharp repricing versus expectations. The stock became the top FTSE 100 loser on the day.