Shares of AstraZeneca Plc were gaining around 4 percent in London trading as well as around 5 percent in pre-market activity on Nasdaq after the British drug major reported Friday significantly higher profit for its second quarter. Top line beat market estimates. Further, the company maintained its outlook for fiscal 2023, expecting growth.
In addition, AstraZeneca noted that its Rare Disease unit Alexion agreed with Pfizer Inc. to purchase and licence the assets of Pfizer's early-stage rare disease gene therapy portfolio for up to $1 billion, plus tiered royalties on sales. Alexion plans to close the transaction in the third quarter, subject to the satisfaction of closing conditions.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.