Cancer drug setback tarnishes AstraZeneca's R&D claims

June 26, 2014 10:28 AM

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Cancer drug setback tarnishes AstraZeneca's R&D claims

LONDON (Reuters) - A vote by U.S. experts against accelerated approval of a new ovarian cancer drug from AstraZeneca (AZN.L) has dented its claims of research prowess, which were used to see off a $118 billion (69.31 billion pounds)bid from Pfizer (PFE.N).

In itself, the setback will have little impact on earnings prospects - but it coincides with heightened scrutiny of the British drugmaker's research and development (R&D) machine and continued talk that Pfizer may return if it stumbles.

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