If investors wonder why I'm so hard on Big Pharma stocks like Lilly (LLY) and Bristol-Myers (BMY), I would offer up AstraZeneca (AZN) as an example. Due to a mix of poor planning and poor luck in the clinic, AstraZeneca is getting walloped by generic competition to key drugs. The company has most definitely opened up its wallet to restock its pipeline, but the cavalry isn't going to arrive for a while yet.
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AstraZeneca Taking Its Lumps