AstraZeneca Pharma Share Price: AstraZeneca Pharma shares rally 13%, hit 52-week high after receiving nod for cancer drug Durvalumab

“AstraZeneca Pharma India Limited has received permission to import for sale and distribution of Durvalumab 120 mg/2.4 mL and 500 mg/10 mL solution for infusion (Imfinzi) from the Central Drugs Standard Control Organisation, Directorate General of Health Services, Government of India,” the company said in an exchange filing.

Durvalumab (IMFINZI) in combination with chemotherapy as neoadjuvant treatment, followed by IMFINZI as monotherapy after surgery, is indicated for the treatment of patients with resectable (tumours 4 cm and/or node positive) NSCLC and no known epidermal growth factor receptor (EGFR) mutations or anaplastic lymphoma kinase (ALK) rearrangements, the company said.

The receipt of this permission will pave the way for the launch of Durvalumab 120 mg/2.4 mL and 500 mg/10 mL solution for infusion (Imfinzi) in India for the specified additional indication, subject to the receipt of related statutory approvals, if any, the company added.

At 11:20 am, the stock was trading 11.6% higher at Rs 7,533 on the BSE. Year-to-date, the stock has rallied 36% and surged 64% in the past 12 months. AstraZeneca Pharma’s market capitalization is Rs 18,820 crore on the BSE, and the company is categorized under the BSE500.

Technically, the stock’s relative strength index (RSI) is at 48.9. According to Trendlyne, an RSI below 30 is considered oversold, while above 70 indicates overbought conditions. Additionally, the MACD is at 13.1, which is above its center line, but below the signal line.The stock is trading above its 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs).(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times.)