27.05.2014 - Pfizer declined from purchasing AstraZeneca
Pharmaceutical giant Pfizer on Monday officially refused to buy AstraZeneca for $ 120 billion. The reason for failure of the transaction was the disagreement between the shareholders of AstraZeneca and the corporation Pfizer, which offered 55 pounds per share against the request of shareholders of 58.85 pounds. Moreover, part of AstraZeneca shareholders believe that the company can improve its performance through investing in its own production of drugs against cancer, respiratory diseases and diabetes.
Currently pharmaceutical sector looks attractive for long term investment. On this background we maintain our positive outlook on the stock, due to the stable development of the company and growth financial indicators.