AstraZeneca rejects £63 billion takeover bid by Pfizer

British pharmaceutical giant AstraZeneca have rejected the new £63 billion takeover proposal from US drugs giant Pfizer.

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Pfizer admits defeat on AstraZeneca bid

US pharmaceuticals giant Pfizer has called off its multi-billion pound bid to take over British-Swedish firm AstraZeneca. The decision came after AstraZeneca's board declined an offer worth almost £70bn.