A Crestor Day
One of the weapons widely used to fight cholesterol might be more powerful than previously believed. Is there a trade here?
A new study concludes that AstraZeneca's cholesterol fighter Crestor slashed deaths, heart attacks, and strokes in healthy patients who took the drug as a preventative measure.
The impressive results have won the attention of doctors around the world with some now suggesting it could change the way we treat this disease.
"It's a landmark study. I think it's going to very much change the concept of primary prevention," Dr Christie Ballantyne of Methodist DeBakey Heart and Vascular Center in Houston said in an interview.
In a first on CNBC interview AstraZeneca CEO David Brennan said the results should have a significant effect on sales.
And CNBC’s Mike Huckman thinks the results will have a substantial ripple effect, creating a significant impact on companies like Quest Diagnostics that perform the tests to determine cholesterol levels.
It’s unbelievably good news, adds Pete Najarain. AstraZeneca might be worth a look, but I’ve got my eye on Amgen because they have as many as 5 blockbuster drugs in the pipeline. Also I like Johnson & Johnson , Novartis and Myriad Genetics in the space.
Don’t forget Celegene, adds Guy Adami. They have no debt and a great balance sheet.
> AstraZeneca CEO on Crestor Study
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Trader disclosure: On Nov.10, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Macke Owns (SDS), (MCD), (WMT), (BNI), (UUP), (MSFT); Macke Is Short (BBY); Najarian Owns (BBY) Put Spread; Najarian Owns (SBUX) Puts; Najarian Owns (CHK) Call Spread; Seymour Owns (AAPL), (BAC), (F), (MER), (BX); Seygem Asset Management Owns (PTR)