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Amgen (AMGN), AbbVie (ABBV) Seen As Possible White Knights For AstraZeneca PLC (AZN)


4/29/2014 8:10:33 AM

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The largest proposed acquisition in drug-industry history may spark further deals as AstraZeneca Plc (AZN) tries to sort out alternatives to Pfizer Inc.’s (PFE:US) unsolicited 58.8-billion-pound ($98.7 billion) takeover approach. AstraZeneca may seek a merger of equals with Amgen Inc. (AMGN:US) or AbbVie Inc. (ABBV:US), both of which have cancer programs, as a defense strategy, said Andrew Baum, a London-based analyst at Citigroup. Or the U.K. drugmaker may find itself the subject of further unwanted approaches from the likes of Sanofi, which would be attracted also to AstraZeneca’s diabetes assets.

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