Is AstraZeneca PLC (AZN) Eyeing Forest Laboratories, Inc. (FRX)?
3/22/2012 9:48:03 AM
AstraZeneca could be on the acquisition trail, analysts believe, with US group Forest Laboratories tipped as a prime target. Liberum Capital moved its recommendation on Astra from sell to buy, based partly on the belief that the chances of the company doing a deal have increased. It pointed to a number of factors: a poor drug pipeline and the need to buy earnings, impending patent expiries from 2014, a new chairman with an acquisition background joining in September (ex-Volvo and Ericsson executive Leif Johansson) and the company returning to a net cash position in the last 18 months.