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A sign outside the global headquarters of AstraZeneca in London is pictured Jan. 29, 2009. THE CANADIAN PRESS/AP, Kirsty Wigglesworth
A sign outside the global headquarters of AstraZeneca in London is pictured Jan. 29, 2009. THE CANADIAN PRESS/AP, Kirsty Wigglesworth
(Kirsty Wigglesworth/THE CANADIAN PRESS)

AstraZeneca offers limp defence for independence

AstraZeneca’s defence against Pfizer’s unsolicited $106-billion (U.S.) takeover approach is off to a weak start. The Anglo-Swedish pharmaceutical group has set out how it intends to increase sales by 73 per cent by 2023. This does not amount to an argument for independence. Nor does it put Astra beyond the reach of its U.S. suitor.