Advertisement
UK markets open in 3 hours 12 minutes

  • NIKKEI 225

    38,090.87
    +129.07 (+0.34%)
     

  • HANG SENG

    16,442.37
    +190.53 (+1.17%)
     

  • CRUDE OIL

    82.87
    +0.18 (+0.22%)
     

  • GOLD FUTURES

    2,389.30
    +0.90 (+0.04%)
     

  • DOW

    37,753.31
    -45.66 (-0.12%)
     

  • Bitcoin GBP

    49,755.95
    -1,512.23 (-2.95%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

  • NASDAQ Composite

    15,683.37
    -181.88 (-1.15%)
     

  • UK FTSE All Share

    4,273.02
    +12.61 (+0.30%)
     
Money:

5 ways to get help with childcare costs

Childcare is eye-wateringly expensive, here are some ways to save money

Top AstraZeneca shareholder Woodford adds to stake, bullish on outlook

Reuters - UK Focus

(Adds dropped word "trial" in second paragraph)

LONDON, Feb 16 (Reuters) - Top AstraZeneca shareholder Woodford Investment Management said on Wednesday it had added to its stake in the pharmaceutical firm and was confident in its growth outlook.

Woodford, in an update on its website, said shares in AstraZeneca (NYSE: AZN - news) had been unfairly hit since analysts raised concern about the prospects for its key cancer drug trial, Mystic, after rival Bristol-Myers Squibb scaled back its plans in a similar area.

"Whilst this is understandable to an extent, we think the reaction is wrong. Indeed, Bristol-Myers Squibb’s problems in this setting may well turn out to be positive for AstraZeneca," Mitchell Fraser-Jones said in a note to investors.

Fraser-Jones said Woodford believed AstraZeneca was on a path to return to growth regardless of the outcome of Mystic, although it was nevertheless optimistic that Mystic would be successful when results are released later this year. (Reporting by Simon Jessop; Editing by Susan Fenton)