AstraZeneca (AZN) Moves to Session Highs; Onglyza Receives Positive FDA Panel Vote on Heart Risk

AstraZeneca (NYSE: AZN) is continuing to session highs Tuesday after it was reported that the company's diabetes drug received a positive FDA panel vote.

The FDA Endocrinologic and Metabolic Drugs Advisory Committee voted 13 - 1 that Onglyza has an acceptable heart failure risk. The panel also said the drug's label should be changed to add information reflecting the risk.

Committee members were only mildly concerned about an increased risk of death from all causes.

Shares of AstraZeneca are up 3.4 percent.

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