Update: Woodford backs AstraZeneca as ‘simply too cheap’ despite £177m hit

Ketan Patel, fund manager at EdenTree Investment Management, comments on the 15.9% drop in AstraZeneca shares in Investment Week. He explains that after rumours around the CEO’s departure and now the failure of cancer drug trial Mystic, doubts are piling up for company shareholders. Patel warns that this latest event will cause many to reconsider their investments.