AstraZeneca PLC Pins Defense To Post-2020 Drugs

Published: May 05, 2014

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AstraZeneca will urge investors to focus on its long-term drug prospects this week by pointing to a group of "hidden gems" that could reap billions of pounds of profits for the British-based company beyond the end of the decade. Sky News understands that the pharmaceuticals firm will focus on the potential profitability of its pipeline after 2020 as it constructs its defence against a £63bn takeover proposal tabled by its US rival Pfizer. The presentation by Pascal Soriot, AstraZeneca's chief executive, will aim to persuade investors that the long-term intrinsic value of the company is far in excess of Pfizer’s £50-a-share offer.

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