Deals
Pfizer Ponders Next Move After AstraZeneca Bid Rejection
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The biggest proposed deal in drug industry history is dead. Or, dead for now.
Pfizer Inc., the largest U.S. drugmaker, yesterday abandoned its effort to buy AstraZeneca Plc for 69.4 billion pounds ($117 billion), saying the public bid rejected by its London-based competitor represented “full value.” AstraZeneca said it welcomed “the opportunity to continue building on the momentum we have already demonstrated.”