Pfizer unlikely to try AstraZeneca takeover again after tax clampdown

US drugmaker had wanted to use acquisition of AstraZeneca to shift tax base to Britain, a move known as tax inversion

The AstraZeneca boss Pascal Soriot has hinted that another takeover approach from its US rival Pfizer has become less likely after a US clampdown on tax inversions, as the British drugmaker upped its 2014 sales and profit forecasts for the second time this year.

The company, which fought off a £70bn bid from Pfizer in May, shored up its defences in the battle to stay independent with better-than-expected results in the third quarter. Revenues climbed 5% to $ 6.5bn, marking the third consecutive quarter of sales growth after years of decline.

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Pharmaceuticals industry | The Guardian

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