AstraZeneca Faces $100 Million Impairment After Disappointing Epanova Data -- Update

Date : 01/13/2020 @ 1:22PM
Source : Dow Jones News
Stock : AstraZeneca PLC (AZN)
Quote : 42.47  0.0 (0.00%) @ 1:00AM

AstraZeneca Faces $100 Million Impairment After Disappointing Epanova Data -- Update

Astrazeneca (LSE:AZN)
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(Adds impairment amount. )


By Adriano Marchese and Carlo Martuscelli


AstraZeneca PLC (AZN.LN) said Monday that it expects to book a $100 million write-down in the fourth quarter after its decision to discontinue a study of its Epanova cardiovascular drug following a recommendation from an independent data-monitoring committee.

The company said it has decided to close the phase three trial for the drug due to its low likelihood of demonstrating a benefit to patients with mixed dyslipidaemia who are at risk of cardiovascular disease.

"We are disappointed by these results, but we remain committed to addressing the needs of patients in the cardiovascular space where we have an extensive pipeline," Executive Vice President of BioPharmaceuticals R&D Mene Pangalos said.

The British pharmaceutical major said that it is reviewing the $533 million value it assigned to Epanova. The $100 million impairment, related to inventories, is expected to hit its core earnings in the final quarter of 2019.


Write to Adriano Marchese at and Carlo Martuscelli at


(END) Dow Jones Newswires

January 13, 2020 08:07 ET (13:07 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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