By Robert Sutherland Smith | Wednesday 23 April 2014
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Were there dirty tricks afoot, when questions were raised about the strength of Astra Zeneca’s (AZN) pipeline? I recall it because I took the trouble to write a note in reply, on the 5th of March, rebutting the suggestion. I attributed this rumour to the fact that the share price had performed well and was full of profit having risen by more than a fifth since October 2013; thus presenting an opportunity for sell side business. How ironic that some six weeks later, the US drug company should be reported as sounding out the Anglo/Swedish AstraZeneca (AZN) about a bid it wishes to make for the company?
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