Senior Correspondent, London
Ben's Feed
May 25, 2014
May 22, 2014
May 21, 2014
May 21, 2014

See you later? Slim Pfizer deal hopes prop up AstraZeneca

LONDON, May 21 (Reuters) – Pfizer’s chances of
striking a deal to buy AstraZeneca in the coming days
look vanishingly small, but the notion it could return later
this year is propping up the British drugmaker’s shares.

The stock rose 3 percent on Wednesday, despite AstraZeneca
insisting on Tuesday there wasn’t the slightest chance of
Pfizer’s $118 billion offer being increased by a May 26 deadline
set by UK takeover rules.

May 20, 2014
May 20, 2014
May 20, 2014

Drug flops from 2004 haunt AstraZeneca investors

LONDON, May 20 (Reuters) – AstraZeneca’s confidence
in its promising new drugs may have seen off Pfizer’s
$118 billion takeover bid for now, but investors are left
contemplating the lessons from 2004, when it was also trumpeting
its product pipeline.

AstraZeneca became renowned a decade ago for talking up the
prospects for its new treatments under former chief executive
Tom McKillop, only to see key experimental medicines tumble like
ninepins in a series of development setbacks.

May 20, 2014

AstraZeneca rejects Pfizer’s take-it-or-leave-it offer

LONDON (Reuters) – Britain’s AstraZeneca on Monday rejected a sweetened and “final” offer from Pfizer, puncturing the U.S. drugmaker’s plan for a merger to create the world’s biggest pharmaceuticals group.

The rebuff came nine hours after Pfizer said on Sunday night it had raised its takeover offer to 55 pounds a share, or around 70 billion pounds in total, and would walk away if AstraZeneca did not accept it.

May 19, 2014

AstraZeneca chairman sees no prospect of last-minute Pfizer deal

LONDON, May 19 (Reuters) – The chairman of Britain’s
AstraZeneca said on Monday he saw no prospect of a deal
with U.S. drugmaker Pfizer before a deadline of May 26
set under UK takeover rules, or any likelihood of that deadline
being extended.

Leif Johansson also told Reuters that it was Pfizer, not
AstraZeneca, that called an end to discussions on Sunday
afternoon about a potential takeover to create the world’s
largest pharmaceuticals company.

May 19, 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."
    • More from Ben

    • Follow Ben