AstraZeneca surges on takeover buzz

The US-based Pfizer has reportedly approached the London-based AstraZeneca PLC for a 60 billion pound takeover.

AstraZeneca Pharma India is in the pink of health on the bourses on reports that the US-based Pfizer has approached London-based AstraZeneca PLC for a 60 billion pound takeover. The stock is trading at  Rs 1,100, stronger by Rs 46 or 4.4%, on the BSE.

 

AstraZeneca, Britain's second-biggest pharma group, has been frequently touted as a potential takeover target as it wrestles with patents expiring on a number of best-selling drugs, leaving future growth uncertain.

 

The stock opened at Rs 1085 and has hit a high of Rs 1,123 and a low of Rs 1,080 so far during the day. 

 

AstraZeneca Pharma India is a leading pharma company and has a broad range of medicines. The company is involved in both manufacturing and marketing of medicines.