AstraZeneca share price: $18.5 billion China obesity-drug deal puts AZN stock in focus for Monday
AstraZeneca PLC shares climbed on Friday after the drugmaker struck a deal to license obesity and weight management drug candidates from CSPC Pharmaceutical Group, in a pact valued at up to $18.5 billion. CSPC revealed AstraZeneca would pay $1.2 billion upfront, with an additional $17.3 billion contingent on meeting milestones. Tony Ren of Macquarie Capital described the move as a “buy the rumour, sell the news” play, after CSPC’s shares dropped nearly 12% in Hong Kong.
