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Investor appetite for pharmaceutical stocks rises

Lucinda Beeman
Written By:
Lucinda Beeman

Over two fifths of investors plan to invest more in the headline-dominating pharmaceutical sector, Barclays Stockbrokers has found.

Attention on the sector has grown lately following the pursuit of American giant Pfizer of its British rival AstraZeneca, with 41 per cent of people polled saying they plan to invest more in pharmaceuticals.

A further 10 per cent said that the positive outlook for the sector means they are planning to invest in pharmaceutical stocks for the first time.

However, the poll was carried out before news surfaced this week that Pfizer has abandoned its plans to buy AstraZeneca.

Pfizer withdrew its final offer on Monday, after weeks of bargaining, in accordance with UK takeover rules which required talks begin by 5pm on 26 May.

The US group must now walk away from the deal for six months, and yesterday rejected Astra’s claim its offer did not represent full value for the business.