AstraZeneca CEO Pascal Soriot buys £7.25 million of shares after 20% slide
AstraZeneca's CEO and chair made sizeable open-market share purchases after a ~20% drawdown from February highs, signalling insider confidence amid late-stage trial disappointment and M&A speculation. Management reiterated focus on smaller bolt-on deals and confidence in the pipeline, with key readouts ahead. The newsletter also notes insider buying at Hilton Food following upgraded guidance, pointing to improving execution after prior operational disruptions.
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AstraZeneca chief executive Pascal Soriot bought £7.25 million of shares, while chair Michel Demaré purchased £300,000 at 12,121p a share on the same day. The stock has fallen about 20% since topping 15,500p in February, pressured by a latestage trial setback and speculation tying the group to $400 billion merger talks with BristolMyers Squibb. Soriot has said AstraZeneca does not need M&A to reach his mediumterm revenue goal of $80 billion.