AstraZeneca rejects latest Pfizer takeover bid
- London-based AstraZeneca has rejected Pfizer’s latest $119 billion offer.
- Pfizer does not plan to pursue a hostile takeover.
- AstraZeneca believes in the value of its pipeline and predicts strong earnings within the next decade.
Though things don’t look too promising right now, if Pfizer were to successfully buy AstraZeneca, it would be the largest deal in pharmaceutical history—a deal worth a total of $124 billion. Many AstraZeneca shareholders are in favor of the deal.
AstraZeneca continues to position itself for an independent future based on a promising pipeline, including several oncology drugs, as well as cardiovascular and asthma therapeutics. AstraZeneca predicts sales of $45 billion by 2023, up from $25.7 billion in 2013.
- The New York Times AsrtraZeneca again rejects Pfizer bid