What's Next for AstraZeneca and Its Dividend?
Just over three summers ago, AstraZeneca plc (NYSE: AZN) CEO Pascal Soriot convinced shareholders to reject a generous buyout offer from Pfizer with promises that drugs in its pipeline would deliver even greater returns. While the company has had some success since then, keeping that promise would have required stellar results from the Mystic trial.
Although the company had good reasons to hope for success, cancer drug development is an extremely risky venture. That's why I thought AstraZeneca shareholders should have been furious three years ago when it turned down Pfizer's $118 billion offer for a roll of the dice.
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Source: Fool.com
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