AstraZeneca rejects new Pfizer offer May 19, 2014 Shares in US drugs giant Pfizer have slumped by 14 per cent after the company's £69bn takeover offer was rejected by the board of AstraZeneca. Last night Pfizer revealed that it had raised its offer for AstraZeneca to £55 a share, after having an earlier offer of £53.50 turned down on Friday night. Chairman of [...]
AstraZeneca shares drop over 1pc as Pfizer halted on NYSE May 16, 2014 Shares of the US drugmaker Pfizer were halted in New York, shortly after 12pm local time. Trading was stopped after the company announced that it to submit a new drug application to US regulators. Palbociclib is an oreal medication, intended as a treatment for breast cancer. With traders still waiting on news of a possible [...]
Astrazeneca told to engage with Pfizer boss Read May 15, 2014 ASTRAZENECA shareholders yesterday urged the firm’s management to start engaging with Pfizer bosses over a potential takeover deal. Pfizer chief Ian Read, who was last night plotting his next move in his bid to buy the UK drug giant, met with City institutions yesterday to lay out his plans for a combined company. One institutional [...]
Pfizer boss woos fund managers in Astrazeneca battle May 14, 2014 THE BOSS of the American drug giant hoping to snap up UK rival Astrazeneca will go on a whirlwind tour of City shareholders today to discover how much it will have to pay to buy the British company. Ian Read, who yesterday faced a second grilling from MPs in Parliament, will sound out a dozen [...]
Bottom Line: Astrazeneca must prove it is worth more May 13, 2014 SINCE it officially rejected Pfizer’s approach on 2 May, Astrazeneca has issued no fewer than six updates to the market on its pipeline of drugs. To pharma novices, presenting “Phase IIb data on two novel investigational molecules” may mean very little, but to investors these announcements are like catnip, providing a glimpse into which drugs could [...]
Pfizer appeals for “engagement” from AstraZeneca board May 13, 2014 Pfizer has published another presentation it’ll give to AstraZeneca shareholders on what it calls the “compelling rationale” for the potential combination of the two drugs giants. It says it “remains disappointed” by the “lack of engagement by the AstraZeneca board” when it comes to discussing the deal. Ahead of Pfizer’s Ian Read’s arrival in the UK [...]
Why the government doesn’t need to protect Astrazeneca May 8, 2014 PFIZER’S bid for Astrazeneca is the biggest potential foreign takeover of a UK company ever, and the most controversial since Kraft’s successful acquisition of Cadbury in 2010. Politicians and much of the scientific establishment have called for the public interest test for takeovers – which now only permits the government to intervene when national security, [...]
Brand Index: Cadbury gives Pfizer and Astrazeneca taste of the future May 6, 2014 NEWS that American pharma giant Pfizer is pursuing the British-Swedish drugs firm Astrazeneca has set the business world alight. While the business cases of such deals can be straightforward, how consumers react to brands is not. To see how foreign takeovers can play out among the public, I have used YouGov’s BrandIndex tool to look [...]
We will not apologise for defending British worldbeaters like AstraZeneca May 5, 2014 Amid the speculation surrounding the potential takeover of UK pharmaceutical giant AstraZeneca by Pfizer, some facts are now known. Pfizer made an approach to take over AstraZeneca on 5 January 2014. The deal valued the company at around £60bn, which AstraZeneca rejected. On 26 April, Pfizer made a second approach, which AstraZeneca also rebuffed. A [...]
Six songs that tell the story of Pfizer’s courtship of AstraZeneca May 2, 2014 Earlier today, Astrazeneca officially rejected a second takeover approach from US rival Pfizer, saying the new terms of the £50 per share offer were "inadequate, substantially undervalue AstraZeneca and are not a basis on which to engage with Pfizer". In honour of the increasingly complex relationship between the two pharma giants, we've compiled a [...]