Pfizer ends attempt to buy AstraZeneca

US group formally concedes that its nearly £70bn bid to create world’s largest pharmaceutical business has failed

Pfizer has abandoned its attempt to buy British drugmaker AstraZeneca as the US group insisted its nearly £70bn approach was "compelling" and represented "full value for the company".

Shortly before it reached a 5pm "put up or shut up" deadline to lodge a formal bid, AstraZeneca’s suitor formally conceded that its campaign to create the world’s largest pharmaceutical business had failed in the face of opposition from British politicians, scientists and the AstraZeneca board.

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Pharmaceuticals industry | The Guardian

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