Investors latched on to some much-needed positive news today from AstraZeneca’s pipeline, currently discounted by the market in the context of the group’s overall value, as headline phase III data for new antiplatelet drug, Brilinta, indicated a clear efficacy advantage over gold standard treatment, Plavix, the pharma industry’s second biggest-selling product last year with revenues of $9.45bn.

Despite the limited data disclosed, Astra’s shares jumped 6% in midday trading to £25.44. Shareholders are clearly hopeful the detailed results to be presented at the end of August will not only confirm the extent of Brilinta’s efficacy superiority over Plavix but critically will not throw up any safety issues which could hurt the drug’s chances of regulatory and commercial success. Although the data released today reduces the risk associated with the drug, significant upgrades to analyst forecasts, currently for relatively modest sales of $374m by 2014, are only likely to come if no devil in the detailed data emerges.