Woodford favourite AstraZeneca dives 16% on drug trial setback

Ketan Patel, fund manager at EdenTree Investment Management, commented on the fall in AstraZeneca’s share price as shares plunged over 15% in early morning trading. The early setback from the Mystic trials does not bode well for a therapy that was forecast to have peak sales of $4bn in 2023. The announcement comes on the back of rumours of the CEO abandoning ship to join a generics business.