AstraZeneca (AZN) early Monday rejected a raised takeover bid from Pfizer (PFE), which Pfizer called its “final proposal” to the British drug giant. AstraZeneca stock tumbled 10% in morning trading on the stock market today, while Pfizer stock was up 1.3%. Late Sunday, Pfizer issued a press release saying that it had bid 55 pounds — about $92.50 — a share for AstraZeneca, for a total of $117 billion. The bid was not only about 15% higher than
Pfizer (PFE) ended weeks of speculation on Wall Street by announcing Friday that it will file for U.S. approval of its breast-cancer drug palbociclib before it finishes clinical trials. The palbociclib FDA filing will be based on the mid-stage PALOMA-1 trial, according to Pfizer’s press release. Pfizer presented the final results of that trial last month, showing a strong progression-free survival benefit, but analysts debated whether it was
British pharma giant AstraZeneca (AZN) announced a new drug approval Tuesday and rolled out a strategy to nearly double revenue over the next decade, furthering its quest to convince shareholders not to yield to Pfizer’s (PFE) takeover attempt. Shareholders did not seem excited, however, as AstraZeneca’s stock was down a fraction on the stock market today. Astra said that the FDA had approved Epanova, a treatment for severe hypertriglyceridaemia,