LONDON, July 31 (Reuters) – AstraZeneca smashed
forecasts for second-quarter sales and earnings on Thursday,
demonstrating resilience after seeing off a $118 billion
takeover approach from rival drugmaker Pfizer two months
On the back of the strong results, AstraZeneca raised its
guidance for the full year, predicting sales would hold steady
and not decline as previously expected.
LONDON, July 30 (Reuters) – AstraZeneca took a major
step to build up its respiratory medicine business on Wednesday
by striking a deal worth up to $2.1 billion to acquire the
rights to lung drugs developed by Spain’s Almirall.
The British drugmaker, which resisted a $118 billion
takeover attempt by Pfizer in May, said it would pay an
initial $875 million and up to $1.22 billion in development,
launch and sales-related milestones.
LONDON (Reuters) – GlaxoSmithKline’s fat dividend is under strain but Britain’s biggest drugmaker is likely to scrape by without cutting payouts as it seeks to compensate investors during a bumpy reshaping of the company.
Worries about GSK’s dividend, which offers a sector-beating yield of 5.5 percent, have mounted since last week when it warned on 2014 profits and confirmed plans to sell several profitable older drugs.
LONDON (Reuters) – AstraZeneca (AZN.L: Quote, Profile, Research, Stock Buzz) has the chance next week to showcase its financial resilience after resisting a $118 billion takeover bid from Pfizer (PFE.N: Quote, Profile, Research, Stock Buzz) – and, ironically, it will get a helping hand from its U.S. foe.
Second-quarter results from the British drugmaker will be boosted by a $200 million milestone payment from Pfizer, following the U.S. company’s launch of an over-the-counter version of AstraZeneca’s heartburn medicine Nexium in May.