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AstraZeneca to step up discussions with investors this week

Reuters - UK Focus

LONDON, May 6 (Reuters) - AstraZeneca Plc (NYSE: AZN - news) said it would step up its interactions with shareholders this week, following Pfizer Inc (NYSE: PFE - news) 's $106 billion takeover approach, which the British drugmaker has dismissed as inadequate.

Chief Executive Pascal Soriot told reporters on Tuesday there was a range of opinion among the group's investors over the Pfizer approach but the overall feedback had been supportive of AstraZeneca's decision to reject the bid.

AstraZeneca laid out its defence against Pfizer's earlier on Tuesday by predicting its revenues would rise sharply over the next 10 years as promising new drugs in its pipeline kicked in. (Reporting by Ben Hirschler; editing by Tom Bergin)