AstraZeneca "underperform"

12/20/05 - Credit Suisse First Boston

LONDON, December 20 (newratings.com) - Analysts at Credit Suisse First Boston maintain their "underperform" rating on AstraZeneca Plc (AZN-GBX). The target price is set to 2500p.

In a research note published this morning, the analysts mention that the company has witnessed three patent challenges in the US in 3Q05 for Seroquel, Nexium and Pulmicort. According to the analysts, the percentage of AstraZeneca’s sales exposed to generic challenges has increased from being amongst the lowest to being one of the highest in the industry, following the recent patent challenges.