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.’
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