AstraZeneca's breast cancer drug gets accelerated US approval, Spire Healthcare agrees to £1.03bn takeover bid
By Iain Gilbert
Date: Monday 07 Sep 2026
(Sharecast News) - LONDON PRE-OPEN
The FTSE 100 was expected to open 18.3 points lower ahead of the opening bell on Monday, after wrapping up the previous session flat at 10,831.09.
STOCKS TO WATCH
Drugmaker AstraZeneca said on Monday that its breast cancer drug Etcamah (camizestrant), used alongside a CDK4/6 inhibitor, has been granted accelerated approval in the US for patients with a common form of advanced breast cancer who show signs of developing resistance to standard hormone therapy. AstraZeneca said the decision was based on an FDA‑authorised blood test that detects emerging ESR1 mutations, which signal that current treatment was becoming less effective and follows results from its Phase III SERENA‑6 trial. In an interim analysis, the Etcamah combination cut the risk of disease progression or death by 56% compared with continuing aromatase‑inhibitor therapy, extending median progression‑free survival to 16 months from 9.2 months.
Spire Healthcare has agreed to be taken over by Tulip UK Bidco, a new company which comprises investment firm Toscafund, private equity firm THCP Advisory and US investment manager Ares, for £1.03bn. Under the terms of the deal, Tulip UK Bidco will pay 250p per share in cash for Spire, which marks a 66.2% premium to the closing share price on 13 May, the last business day prior to the possible offer announcement.
NEWSPAPER ROUND-UP
Professional designers should not feel "threatened" by the rapid growth of generative AI, according to business leaders, despite fears over job losses in the sector. With design and film production companies and manufacturers all adopting AI at an accelerating pace, industry bodies said the technology would be used to enhance the work of designers rather than replace them. - Guardian
John Healey will argue the government's plans to boost growth across the whole country will enable the British economy to "turn a corner" despite anxiety over volatile bond markets derailing Labour's crucial first budget. The chancellor is expected to argue that fiscal discipline is "indivisible" from good growth, especially at a time of difficult global headwinds, amid concerns that his cautious approach jars with Andy Burnham's more radical policy plans. - Guardian
The Business Secretary has ruled out financial support for Jaguar Land Rover to protect thousands of jobs. Jonathan Reynolds said the Government would not stand in the way of redundancies if that was what was needed to make the carmaker competitive. It follows reports that the UK's largest car manufacturer is to cut 4,000 jobs, with a major redundancy programme expected to be confirmed on Monday. - Telegraph
Family-owned manufacturing businesses are under threat from inheritance tax changes and high energy costs, a report says. Business owners could delay investment, restructure ownership or sell up because of tax liabilities rather than long-term business considerations, according to the report from Make UK, the manufacturers' organisation, and Bishop Fleming, the accountancy firm. - The Times
Airline passengers could be left footing the bill for almost £600m of cost overruns on Heathrow construction projects in a move that carriers have likened to writing the airport "a blank cheque". An official report into the "capital efficiency" of Heathrow's spending for the five-year period between 2019 and 2024 has found that projects were 61% over budget. Yet in a move that has infuriated the airline industry, the study recommends that Heathrow shareholders be let off nearly all of the bill. - The Times
US CLOSE
Major indices closed lower on Friday as August's hotter-than-expected jobs report led to increased expectations that the central bank will move to raise interest rates at its next policy meeting.
At the close, the Dow Jones Industrial Average was down 0.51% at 53,414.25, while the S&P 500 shed 0.38% to 7,718.60 and the Nasdaq Composite saw out the session 0.29% softer at 26,506.99.
Reporting by Iain Gilbert at Sharecast.com
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