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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