AstraZeneca surges on Soriot’s upbeat assessment of its pipeline
Shares of AstraZeneca $AZN shot up 5.5% today as CEO Pascal Soriot says its pipeline is full to bursting with R&D prospects that can drive billions of dollars in new revenue.
And that is once again helping to spur chatter about a possible megamerger deal for the pharma giant, two years after it successfully fought off Pfizer’s embrace by boldly projecting 2023 sales of $45 billion. Today, Soriot backed away from that pledge, saying that new exchange rates would likely force its projections down to around $40 billion to $41 billion.
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