Drug Flops From 2004 Haunt AstraZeneca PLC (AZN) Investors
5/23/2014 7:56:14 AM
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.
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