Summary
ASTRAZENECA was hit by heavy selling today after unexpectedly losing a key battle to protect its patent for its fifth-biggest drug, the asthma treatment Symbicort.
The shares fell 78p to 2476p as investors swallowed the bitter news that the European Patent Office had found in favour of a group of generic manufacturers. They will now be able to launch their own competing product in September 2010.See the full content of this document
Extract
European Patent Blow Is Astrazeneca Choker
The shock decision saw analysts hastily adjusting their figures. HSBC, still a fan of the drugmaker, lowered its target price by 50p to 2850p, saying the ruling will mea...
See the full content of this document
Sponsored links
