As­traZeneca gets a boost from dur­val­um­ab PhI­II chat­ter as pipeline wear and tear starts to show

As­traZeneca shares have been surg­ing in the wake of the Brex­it breakup vote, and some boost­ers of the UK phar­ma gi­ant are in­ter­pret­ing the ral­ly as a sign of re­newed hope in its pipeline rather than just a bit of spec­u­la­tion on some thin ru­mors about a po­ten­tial takeover bid by No­var­tis.

As­traZeneca in­vestor Daniel Ma­ho­ny, a fund man­ag­er at Po­lar Cap­i­tal LLP, had this to tell Bloomberg:

As­tra is show­ing a bit of leg this year be­cause of pipeline mis­steps by oth­ers. It wouldn’t sur­prise me if the shares move up more from here. The pipeline is com­ing in­to view.’

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER