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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.

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AstraZeneca shareholder believes Pfizer will renew bid

AstraZeneca shareholder Aberdeen Asset Management believes Pfizer will return with a renewed bid for the British drug manufacturer in six months.

ITV News Business Editor Joel Hills reports:

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