AstraZeneca's Research Engine is Still Humming

Dow Jones10-07

1329 GMT - AstraZeneca has a strong research-and-development engine that is still running despite recent setbacks, which bodes well for the U.K. drugmaker's long-term outlook, Bernstein analysts say in a research note. Shares in AstraZeneca have been under pressure lately and some investors are debating whether its current woes are comparable to what Swiss peer Roche experienced between 2022 and 2025, when it was punished by the market after a series of disappointing trials, the analysts say. The breadth and depth of AstraZeneca's drug pipeline means those fears seem misplaced and the U.K. company is unlikely to share Roche's fate, the analysts add. Bernstein trims its target price on AstraZeneca to 198 pounds from 200 pounds. Shares rise 1% to 120.80 pounds.

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