- A recent GlobalData survey highlighted a majority of US, and UK healthcare professionals believed the UK is an attractive destination for research and manufacturing in the sector post Brexit.
- Vaccine maker AstraZeneca’s share dropped in early trading today after the UK competition watchdog said it would look into its takeover deal with US drug company Alexion
The ongoing Covid-19 crisis has prompted a flurry of research and investment across the globe in several healthcare related sectors. The pharmaceutical sector and vaccine makers, in particular, have benefitted from greater investment and trading activity due to the unprecedented crisis.
In a recently released survey conducted by data firm GlobalData, about 64 per cent of US-based and 56 per cent of UK-based industry professionals in the healthcare sector shared a positive outlook about the UK’s attractiveness for healthcare research and manufacturing after Brexit.
In this article, we will explore two FTSE listed pharmaceutical and biotechnology stocks that were trending today:
- AstraZeneca PLC (LON: AZN)
The vaccine maker AstraZeneca is a constituent of the FTSE 100 index. The company was in the news today after UK’s competition watchdog Competition and Markets Authority (CMA) said it was probing into the pharma major’s takeover of US drug manufacturer Alexion (NASDAQ: ALXN) could reduce competition in the UK market.
The CMA invited comments till 3 June. The buyout deal, which is worth up to US$ 39 billion, would be completed in a cash and share transaction and received approval from shareholders earlier in May. A representative from AstraZeneca was quoted saying they still expect the deal to close by Q3 2021.
(Image Source: Refinitiv)
AZN’s stock prices were trading at GBX 1,352.60, down by 0.15 per cent, while the UK Medicine and Biotech sector index stood at 16,887.33, down by 0.22 per cent on 25 May at 09:43 HRS GMT+1.
- Indivior PLC (LON: INDV)
FTSE 250 listed pharma major Indivior today announced the participation of its CEO Mark Crossley and CFO Ryan Preblick in the Jefferies Virtual Healthcare Conference. The presentation is scheduled for 1 June.
The company had recently made a settlement worth up to US$ 300 million in April to resolve claims over the improper marketing of its opioid drug Suboxone. The company will pay a little under U$204 million to Medicaid, and the remaining amount will be paid to the respective US states for their Medicaid recovery.
(Image Source: Refinitiv)
INDV’s stock prices were trading at GBX 152.30, up by 0.07 per cent, while the broader market index FTSE 250 stood at 22,564.47, up by 0.36 per cent on 25 May at 10:13 HRS GMT+1.
The company’s market cap was at £1.118 billion, and its five-year average dividend yield was at 0.5 per cent. In the last one year the stock has given a return of around 145 per cent.