AstraZeneca PLC (AZN) Secures EU Approval for Imfinzi

AstraZeneca PLC (NASDAQ:AZN) is one of Goldman Sachs’ top healthcare stock picks. On July 4, the company secured regulatory approval for Imfinzi (durvalumab). The approval is for the use of the drug for the treatment of muscle-invasive bladder cancer (MIBC).

The regulatory approval by the European Commission follows a positive opinion by the Committee for Medicinal Products for Human Use. It also comes on the heels of the company delivering positive results from the NIAGARA Phase III trial.

“The NIAGARA results showed how this regimen reduced the risk of recurrence by nearly a third and significantly extended survival, underscoring its potential to transform clinical practice in this curative-intent setting,” Dr. Michiel Van der Heijden, medical oncologist and Group Leader at the Netherlands Cancer Institute, and investigator in the NIAGARA trial, said.

With the regulatory approval, AstraZeneca stands to target over 30,000 people in the five major European countries struggling with respectable muscle-invasive bladder cancer (MIBC).

AstraZeneca PLC (NASDAQ:AZN) is a biopharmaceutical company focused on the discovery, development, and commercialization of prescription medicines. It operates in key therapeutic areas, including oncology, cardiovascular, renal, and metabolic diseases, as well as respiratory, immunology, and rare diseases.

While we acknowledge the potential of AZN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 11 Best Green Energy Penny Stocks to Buy Right Now and 10 Most Popular AI Penny Stocks to Buy According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.