Drug Doubts See Az Take Drubbing From Analysts ; Market Report

Evening Standard - London (February 25, 2005)

Author: Sarah Marks

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Summary

ASTRAZENECA tumbled 33p to 2083p today after analysts at Goldman Sachs and Dresdner Kleinwort Wasserstein laid into the struggling drugs group.

In a note to clients, Goldman expressed strong doubts about future profits from AZ's anti-cholesterol drug Crestor, slashing the company's forecasts for 2007 by 3% and for 2008 by 7%.

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Drug Doubts See Az Take Drubbing From Analysts ; Market Report

"We cut our Crestor estimates based on the results of our proprietary cholesterol drug survey," said the analysts, who also cited poor pipeline vi...

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