AstraZeneca PLC (AZN) Eyes Bigger Deals to Fill the Pipeline
3/9/2012 7:52:12 AM
AstraZeneca (AZN.L) is dusting off its cheque book. The country's second biggest drugmaker has bought nothing for more than $400 million (253 million pounds) since its 2007 purchase of U.S. biotechnology company MedImmune for $15.6 billion -- an overpriced flop that has failed to deliver. Now, its drug pipeline down to a trickle, the company is venturing back into the market and aiming for multiple low-billion-dollar deals. "We are very actively talking to a number of companies, including potential peer-to-peer and biotech deals," research head Martin Mackay, whose job it is to find tomorrow's big sellers, told Reuters.