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Pfizer Could See Value in AstraZeneca Pipeline

Pfizer may come back to bid for British drug company AstraZeneca after its reported 60 billion pound ($101 billion) takeover approach was rejected, since a deal could make sense for the U.S. pharmaceuticals giant as it seeks to build up its cancer franchise.In addition to adding promising - though still risky - experimental medicines known as immunotherapies that boost the body's immune system to fight tumors, acquiring AstraZeneca could also generate significant cost savings, according to industry analysts.As a result, a deal at around a 25 percent premium to the current share price funded by cash, cheap debt and some stock could boost Pfizer earnings immediately, they believe.Both companies have declined to comment on a report in the Sunday Times, which cited senior investment bankers and industry sources saying that Pfizer approached the British pharmaceuticals group about a deal. The newspaper said no talks were currently under way after AstraZeneca resisted the approach.Citi analy...

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