AstraZeneca could sell, spin off $15B worth of assets

AstraZeneca (AZN) is reviewing its neuroscience and anti-infection businesses and hopes to announce news "in the near future," CEO Pascale Soriot says following the company's Q1 earnings.

Astra could sell or spin off the operations - which analysts reckon could bring in $15B but which the company views as non-core - or bring in partners.

AstraZeneca is exploring options similar to Novartis' and GlaxoSmithKline's multibillion-dollar asset swap.

However, Soriot declined to comment on a report that Pfizer (PFE) had offered over $100B to buy AstraZeneca.

Shares are +5% premarket.

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Comments (1)
  • Jimghad
    , contributor
    Comments (884) | Send Message
    So, either way, the share holders of AZ will be smiling.
    So will the CEO Pascal Soriot. He sure deserves the accolades.
    24 Apr 2014, 03:41 PM Reply Like
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