AstraZeneca to respond to Pfizer offer this morning

UK pharmaceutical company AstraZeneca are expected to respond to Pfizer's "final" offer, Business Editor Joel Hills reports.

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Late last night Pfizer submitted renewed bid for AstraZeneca, described as "final and cannot be increased". AZ's response at 07:00.

Read: Pfizer's 'final' offer 'represents full value of UK firm

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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.