London shares down as AstraZeneca loses patent
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Leading London shares closed lower as drugmaker AstraZeneca suffered a heavy blow following a negative EU ruling on one of its patents.
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London shares closed lower, depressed by a weak morning by Wall Street as concerns over high oil prices and a weaker dollar continued to weigh on sentiment on both sides of the Atlantic, dealers said.
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European equity markets fell on Monday as weakness in financial and mining stocks offset strength in drugmakers.
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Shares of AstraZeneca Plc and GlaxoSmithKline Plc, the UK&#39;s two biggest drugmakers, fell after a US health official said two of their best-selling treatments need closer safety reviews.
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The share price of US drugs giant Merck falls to an eight-year low after it announces that it has been forced to withdraw a key drug on side effect fears.
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Shares in the London Stock Exchange eased on Monday after U.S. rival Nasdaq's 2.7 billion pound ($5.3 billion) bid failed.
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London equities fell in early trading on Wednesday, after Wall Street markets suffered their worst losses for three weeks on renewed concern about the health of the US housing market.
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Stock falls on news treatment failed a mid-stage trial, company will cease developing drug. NEW YORK  - AtheroGenics Inc.
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Leading shares closed the session under pressure, hit by weakness in heavyweight pharmas after AstraZeneca admitted a key cancer drug had failed tests and poor trading in New York, dealers said.
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European shares retreated on Wednesday as AstraZeneca's business update disappointed investors and on nagging concerns that soaring oil prices will hurt the quality of future earnings.
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LONDON  -- Nasdaq Stock Markets Inc.  suffered a resounding defeat in its 2.7 billion pound ( ($5.31 billion) bid for the London Stock Exchange  on Saturday, saying it had won just 0.41 pct of acceptances for its offer for Europe's largest share market.
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AstraZeneca was dealt a blow yesterday when an official from the US&#39;s drugs watchdog questioned whether one of its key products ought to be sold in the world&#39;s largest pharmaceuticals market.
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Stocks fell on Friday, led by  pharmaceutical shares after a U.S. health official raised  concerns about drug safety and a drop in chip-equipment makers  following a ratings downgrade by Goldman Sachs.
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Shares in Pfizer Inc fell 11 percent in Europe on Monday after the world's biggest drugmaker scrapped development of its most important experimental medicine.
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Shares in AstraZeneca Plc fell as much  as 10 percent on Friday after regulators in the United States  and Europe raised safety concerns about the Anglo-Swedish drug  maker's anti-cholesterol treatment Crestor.
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UK blue chips closed lower as Wall Street remained weaker after disappointing inflation data with Alliance & Leicester down after reporting a fall in core operating profit, held back by large scale write-downs.
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Shares of the Nasdaq Stock Market  plunged to their lowest levels in over a month after the London Stock Exchange  urged shareholders to reject a 2.7 billion pound ($5.27 billion) hostile bid from the largest U.S. electronic stock market.