Monday, June 10, 2013

Investopedia: AstraZeneca Pays Up To Patch Up Another Key Area

Pascal Soriot is still hard at work in patching up AstraZeneca's (NYSE:AZN) battered pipeline and five-year profit prospects. Following the announcement of an agreement to acquire Omthera (Nasdaq:OMTH) to boost the company's cardiovascular drug business, AstraZeneca announced Monday that it was acquiring development-stage COPD drug developer Pearl Therapeutics. While AstraZeneca does not appear to be buying a future blockbuster, the deal should be a relatively low-risk way to boost the company's important respiratory drug franchise and offset some of the downside risk to the five-year revenue and profit outlook.

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