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AstraZeneca Shares Hit 2017 High After Phase-3 Trial Success for Lung Cancer Treatment

AstraZeneca plc AZN shares rose to the top of the FTSE 100 leaderboard Friday after the drugmaker said one of its new lung cancer treatments cleared a key hurdle in clinical trials.

AstraZeneca said its durvalumab lung cancer drug, known as Imfinzi, passed a 'phase III' trial with patients involved in chemotherapy and radiation therapy, just days after the U.S. Food & Drug Administration cleared the drug's use for patients with bladder cancer.

"These are highly encouraging results for patients with locally-advanced lung cancer for whom surgery is not an option," said Sean Bohen, AstraZeneca's chief medical officer. "We look forward to working...