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News Breaks
17:20 EDTAZN
theflyonthewall.com: U.S. Court of Appeals upholds AstraZeneca AWP settlement
The United States Court of Appeals for the First Circuit upheld an earlier District Court ruling, approving a settlement in the long-running Average Wholesale Price-AWP-pharmaceutical litigation against AstraZeneca Pharmaceuticals .The ruling affirms a settlement that awarded consumers who purchased the pharmaceutical giant's prostate cancer drug Zoladex treble damages, a rare if not unprecedented event in consumer litigation. The case afforded thousands of consumers access to a $24M settlement against the drug giant accused of manipulating the price of Zoladex. Under the settlement approved by the U.S. District Court in November 2007, any consumer who could provide reasonable documentation can receive three times the actual damages. Any funds left over from the $24M settlement would go to non-profit organizations. Experts representing the plaintiffs expect that only about $21M will be claimed by class members, many of whom have passed away since the case was filed. :theflyonthewall.com



News For AZN From The Last 14 Days
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February 9, 2010
05:57 EDTAZN
theflyonthewall.com: AstraZeneca receives FDA approval for new Crestor indication
AstraZeneca announced that the FDA has approved CRESTOR to reduce the risk of stroke, heart attack, and arterial revascularization procedures in individuals without clinically evident coronary heart disease but with an increased risk of cardiovascular disease based on age, high-sensitivity C-reactive protein greater than or equal to 2 mg/L, and the presence of at least one additional CVD risk factor, such as hypertension, low HDL-C, smoking, or a family history of premature coronary heart disease. :theflyonthewall.com

February 5, 2010
07:41 EDTAZN
theflyonthewall.com: GlaxoSmithKline to end research on new antidepressants, WSJ reports

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February 4, 2010
07:11 EDTAZN
theflyonthewall.com: Pfizer to reduce R&D as it absorbs Wyeth, WSJ reports
Pfizer (PFE) plans to cut its R&D spending by up to $3B by 2012, which was more than 25% of the combined R&D of Pfizer and newly acquired Wyeth in 2008, reports the Wall Street Journal. The move is based on efficiencies without hurting future product development. Reference Link :theflyonthewall.com

January 29, 2010
14:08 EDTAZN
theflyonthewall.com: Pivotal trial results for Motavizumab published

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January 28, 2010
09:32 EDTAZN
theflyonthewall.com: AstraZeneca reported Q4 non-GAAP EPS $1.42 vs. consensus of $1.52

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09:28 EDTAZN
theflyonthewall.com: AstraZeneca recommends 14% increase to second interim dividend

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09:27 EDTAZN
theflyonthewall.com: AstraZeneca announces stock buyback up to $1B of shares during 2010

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09:26 EDTAZN
theflyonthewall.com: AstraZeneca expects sales of $28B-$34B per year over next five years

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09:26 EDTAZN
theflyonthewall.com: AstraZeneca sees 2010 EPS $5.75-$6.15 vs. consensus of $6.04

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09:24 EDTAZN
theflyonthewall.com: AstraZeneca announces reduction of around 1,800 positions
AstraZeneca said it will undertake additional restructuring within the R&D function, including a reduction in the number of disease area targets within our core therapeutic areas. By 2014, annual savings of $1 billion should be realized; of which one-half is estimated to be cost savings and the other half cost avoidance. Based on preliminary estimates, approximately 3,500 positions may be affected by this program. After taking account of positions that will be retained whilst being relocated to another site, the investment in new skills and capabilities and further expansion of our Biologics activities, the net reduction may be around 1,800 positions. The cost of this restructuring is estimated to be $1 billion, of which approximately 60 percent will be cash costs. :theflyonthewall.com
07:04 EDTAZN
theflyonthewall.com: AstraZeneca Q4 Crestor sales $1.26B, up 20%

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07:00 EDTAZN
theflyonthewall.com: AstraZeneca reports Q4 EPS $1.07 vs. consensus of $1.52
Reports Q4 revenue $8.95B vs. consensus of $8.85B :theflyonthewall.com