Stockwatch: The Pfizer Sanction
This article was originally published in Scrip
If you are an AstraZeneca shareholder holding your breath since the expiry on 26 August of the three-month ban imposed by the Takeover Panel on Pfizer and AstraZeneca talking to each other about their previously rejected merger, you will have turned blue by now.
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Drugs that have failed in clinical studies often come back for another go, making the same mistakes for a new cohort of investors who missed the first failure. The global pandemic is also enabling this for once- or twice-failed drugs.
Batsu is the Japanese term for games that have penalties, unlike those which are just for fun. Seasoned investors are well aware of the risks of drug and vaccine development but many investors new to the sector are just learning of the downsides.
For a biotech launching its first product the pandemic has compounded the usual pressures of a competitive indication against deeper-pocketed competition.