Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

Wall Street gets Fed reality check
Wall Street gets Fed reality check - 01:51
Reuters Today: Spanish yields seen rising at auction
Reuters Today: Spanish yields seen rising at auction - 06:21
Surprise services boost points to UK recovery
Surprise services boost points to UK recovery - 02:54
Breakingviews: Do as I say, not as I do – German wages
Breakingviews: Do as I say, not as I do – German wages - 05:04
Market Pulse: Spain under fire as investors shun bond sale
Market Pulse: Spain under fire as investors shun bond sale - 03:28
Myanmar's Kyat begins managed float
Myanmar's Kyat begins managed float - 01:59
ASEAN: territorial code of conduct draft by year-end
ASEAN: territorial code of conduct draft by year-end - 01:48
U.S. Morning Call: Stock futures down, JPMorgan to be fined
U.S. Morning Call: Stock futures down, JPMorgan to be fined - 02:08
EMEA Day Ahead:: Thursday
EMEA Day Ahead:: Thursday - 03:13
3XSQ: Customer funds in question; royal return
3XSQ: Customer funds in question; royal return - 05:44
Still cashing in? Hirst retrospective
Still cashing in? Hirst retrospective - 02:32
World's biggest car delivery center
World's biggest car delivery center - 02:41
FACTBOX: Titanic the movie sails again
FACTBOX: Titanic the movie sails again - 02:20
Trading at Noon: Wall St. down on lost hope for stimulus
Trading at Noon: Wall St. down on lost hope for stimulus - 02:48
Draghi holds rates, offers caution
Draghi holds rates, offers caution - 01:50
Breakingviews: Gun bubble redux
Breakingviews: Gun bubble redux - 02:51
Yahoo cuts 2,000 jobs
Yahoo cuts 2,000 jobs - 01:15
Easter egg panic in eastern Europe
Easter egg panic in eastern Europe - 01:28
Wealth Strategies: Equity rally has 3 years left in cycle
Wealth Strategies: Equity rally has 3 years left in cycle - 06:05
Congressional insider trading ban
Congressional insider trading ban - 01:17
Gas prices no detour for car buyers
Gas prices no detour for car buyers - 02:13
Demand for fuel-efficient cars will outlast spike in gas prices
Demand for fuel-efficient cars will outlast spike in gas prices - 02:36
Most engines of growth are in emerging markets : Nissan CEO
Most engines of growth are in emerging markets : Nissan CEO - 05:39
U.S. Day Ahead: GAP set to shine with same store sales
U.S. Day Ahead: GAP set to shine with same store sales - 01:59

AstraZeneca's silence on CEO wipes out £billions

Friday, July 14, 2017 - 01:39

Uncertainty over the future of AstraZeneca Chief Executive Pascal Soriot drove the Anglo-Swedish drugmaker's shares lower again on Friday, taking the cost of two days of silence to more than 3 billion pounds ($3.9 billion). Ciara Lee reports.

▲ Hide Transcript

▶ View Transcript

An expensive two days of silence... costing drugmaker AstraZeneca 3 billion pounds to be exact. Uncertainty over CEO Pascal Soriot saw the company's shareprice nose-dive. The Anglo-Swedish drugmaker has declined to comment on an Israeli media report that Soriot was in talks to join Israel's Teva Pharmaceutical Industries - the world's biggest generic drugmaker. AstraZeneca shares closed 3.5 percent lower on Thursday and were down 2.5 percent on Friday at a two-month low. The fall in shares has wiped 3.2 billion pounds off AstraZeneca's market value, leaving it at 62 billion pounds, or $80 billion. SOUNDBITE (English) CMC Markets, Market Analyst, David Madden, saying: "I think the share price decline has actually been a bit excessive. AstraZenica shares have been performing exceptionally well over the last number of years. They've been in a very steady uptrend for several years now. Only last month AstraZeneca shares hit an all time high. I think if anything this is just a bit of profit taking. Traders probably shouldn't read too much into it." Moving to a generics drugmaker would be a big change in direction for French-born Soriot. He's made research-based pharmaceuticals his whole drive at AstraZeneca. The timing of the report has alarmed investors, coming as the company waits for data from a lung cancer drug trial - seen as a game-changer for the firm. During his five years at AstraZeneca, Soriot successfully defended the company against a $118 billion takeover approach from Pfizer

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

AstraZeneca's silence on CEO wipes out £billions

Friday, July 14, 2017 - 01:39