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Jul 31, 2014

AstraZeneca smashes forecasts in Q2 after seeing off Pfizer

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
ago.

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.

Jul 30, 2014
Jul 30, 2014

AstraZeneca buys Almirall lung drugs for up to $2.1 billion

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.

Jul 29, 2014
Jul 29, 2014
Jul 29, 2014

Despite strains, GlaxoSmithKline dividend seen safe for now

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.

Jul 29, 2014
Jul 28, 2014
Jul 25, 2014

AstraZeneca results to get lift from bid foe Pfizer

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.

Jul 25, 2014
    • About Ben

      "Ben Hirschler is European pharmaceuticals, biotechnology and healthcare correspondent, based in London. Previously, he was in charge of British company news and before that was posted to Johannesburg, covering the economic challenges facing post-apartheid South Africa."
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