Pfizer posts lower Q1 results amid Astrazeneca bid talk
6th May 2014 08:39
US drug group Pfizer reported lower first quarter revenue and income as speculation swirled about its contentious bid for British rival Astrazeneca. Pfizer said the loss of exclusivity on some products and the end of joint promotions had led to a 9% fall in reported revenue to a lower-than-expected
Read moreAstraZeneca sets out Pfizer defence, asks UK govt to stay impartial - UPDATE
6th May 2014 08:09
Pharmaceutical giant AstraZeneca on Tuesday set out its defence against a 63bn pounds takeover bid from US rival Pfizer as it urged Britain not to take sides in the affair. AstraZeneca issued a strategy update highlighting "excellent growth prospects, a rapidly progressing pipeline and the future d
Read moreAstraZeneca wins FDA approval of Epanova drug
6th May 2014 07:48
The US Food and Drug Administration (FDA) has granted approval of Epanova, AstraZeneca's treatment for adults with the condition hypertriglyceridemia. The drug is designed to be used in conjunction with diet to reduce the level of triglycerides, the most common type of fatty acid found in blood. I
Read moreLondon pre-open: Small rise expected despite Chinese data, Ukraine
6th May 2014 07:40
UK investors are set to return in a fairly upbeat mood after the bank holiday weekend as they gear up for the latest macro data and are expected to shrug off disappointing Chinese economic figures coupled with the ongoing turbulence in Eastern Europe. City sources predict the FTSE 100 will open ar
Read moreTuesday tips round-up: AstraZeneca, Pfizer
6th May 2014 07:32
The latest quarterly results out from Pfizer overnight revealed why it is so keen to acquire AstraZeneca. In recent times it has proved to be more nimble at purchasing rivals than at developing new drugs. The UK-listed outfit, on the other hand, is at the beginning of a Renaissance. Hence, in fact,
Read moreTuesday newspaper round-up: Ukraine, AstraZeneca, Bank of England
6th May 2014 07:03
Heavy fighting erupted Monday around a pro-Russian separatist stronghold in eastern Ukraine, with dozens of casualties reported as the standoff between insurgents and the government entered a more dangerous phase. The fighting was the most sustained since acting President Oleksandr Turchynov first s
Read morePfizer considering all options in AstraZeneca takeover
6th May 2014 06:40
US pharmaceutical giant Pfizer has said that it remains open to a hostile takeover of AstraZeneca after its sweetened bid for the Anglo-Swedish drugmaker was rejected last week. After being asked whether Pfizer would take an offer directly to AstraZeneca's shareholders, Chief Executive Ian Read tol
Read moreSunday newspaper round-up: AstraZeneca, Barclays, Mothercare
4th May 2014 12:49
Pfizer is preparing to put AstraZeneca in a "bear hug" by stating it will not increase its 63 billion pounds offer without getting a closer look at the UK company's drug prospects, the Sunday Times reported. The US giant will lobby Astra's shareholders to force it to enter talks and will also talk a
Read moreAstraZeneca rejects Pfizer takeover offer
2nd May 2014 12:08
Late on Friday morning at 11:00, AstraZeneca issued a statement saying that Pfizer's sweetened takeover proposal, presented only a few hours earlier, did not provide a basis "on which to engage with Pfizer". That followed a meeting of the Anglo-Swedish group's board which found that the financial a
Read moreLondon midday: RBS and IHG rise, but markets cautious ahead of US data
2nd May 2014 11:48
- Markets rangebound ahead of US jobs report - FTSE 100 at highest in two months - Ukraine tensions limit gains - RBS doubles pre-tax profits in first quarter - IHG unveils special divi after strong start techMARK 2,793.80 +0.19% FTSE 100 6,818.58 +0.14% FTSE 250 15,922.13 +0.45% Strong gains from
Read moreAstraZeneca to meet and discuss Pfizer proposal
2nd May 2014 09:34
AstraZeneca issued a statement on Friday acknowledging the receipt of Pfizer's non-binding proposal. "The board of AstraZeneca will meet to discuss the proposal and a further announcement will be made when appropriate. "There can be no certainty that any offer will be made or as to the terms of an
Read moreWednesday newspaper round-up: AstraZeneca, Housing market, Alstom
30th Apr 2014 06:58
The head of Pfizer has jetted into London to begin a whistlestop tour of City institutions as the American drugs company scrambles to drum up support for a hostile £58.7bn takeover of AstraZeneca. Ian Read's arrival for a 48-hour tour of fund management firms underlined the urgency of Pfizer's inten
Read moreBroker tips: BP, AstraZeneca, Serco, Telecity
29th Apr 2014 12:48
Investec kept a 'hold' stance on oil major BP, but said that the company's first-quarter trading update showed a 'solid start to the year'. "We do not expect any major changes to either our forecasts or consensus. BP is trading broadly in line with the sector which, given current Russian risk, look
Read moreLondon midday: FTSE at eight-week high on UK data, M&A speculation
29th Apr 2014 11:26
- FTSE 100 at highest since March 6th - UK GDP picks up, economic sentiment rises - Serco plummets after profit warning - Shire gains on potential takeover from Allergan techMARK 2,805.40 +1.25% FTSE 100 6,745.78 +0.68% FTSE 250 15,903.02 +0.49% A decent improvement in UK economic data and continu
Read morePanmure upgrades AstraZeneca on hopes of higher bid from Pfizer
29th Apr 2014 09:52
Panmure Gordon has upgraded its recommendation for AstraZeneca from 'hold' to 'buy', saying that a potential takeover by US pharmaceutical peer Pfizer is likely. The broker has hiked its target price for the stock from 3,900p to 5,400p. Pfizer confirmed on Monday that it had approached AstraZeneca
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