AstraZeneca Plc laid out its defence against Pfizer Inc's $106 billion takeover approach on Tuesday by predicting its revenues would rise 75 percent over the next decade, although only after a short-term drop.With promising new medicines expected to lift annual sales above $45 billion by 2023, up from $25.7 billion in 2013, selling out to the U.S. group now would deprive investors of huge gains, it argued."The increasingly visible success of our independent strategy highlights the future prospects for our shareholders," said Chairman Leif Johansson. "These are benefits that should fully accrue to AstraZeneca's shareholders."Investors and analysts agree Britain's second biggest drugmaker has an improving experimental drug portfolio in areas ranging from cancer to asthma, but they remain nervous about the uncertain commercial future of many products.
AstraZeneca PLC (AstraZeneca) is a global biopharmaceutical company. Shares of AZN fell by 1.42% or $-1.15/share to $79.87. In the past year, the shares have traded as low as $46.87 and as high as $82.68. On average, 3546180 shares of AZN exchange hands on a given day and today's volume is recorded at 5842431.
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