Broker snap: Brilinta concerns at AstraZeneca

29th Mar 2011 11:36

RBS cuts the target price for pharmaceutical giant AstraZeneca after increasing concerns ahead of the US Food and Drug Association's decision on its new blood-thinning drug Brilinta."A recent exchange of views in the journal Thrombosis and Haemostasis shows that the lack of benefit of Brilinta in US patients in the PLATO study remains controversial," said the broker.Additionally, since the group's full-year results, RBS says it has seen other news that leads it to lower the assumed long-term (post 2017) growth rate in cash flows from -1.5% to -2.5%.A 'hold' is maintained, but the target price is cut to 3,175p, from 3,250p.BC