1324 GMT - AstraZeneca's higher spending on research and development is a positive and crucial for it to build out its pipeline, UBS analysts say in a note. The British pharma giant generated higher-than-expected collaboration income, which it reinvested in R&D spending that grew 23% in the fourth quarter, the analysts say. "This is in line with UBS thesis that Astra Zeneca needs to increase R&D spend to prosecute the rich pipeline," UBS says. This year is key for the drugmaker, with seven expected late-stage trial results due, they say. Shares are up 5.8% at 117.70 pounds. (helena.smolak@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 08:24 ET (13:24 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.