LONDON, May 19 (UPI) -- AstraZeneca rejected another offer from Pfizer, saying the price was too low and ending all chances of creating the world's biggest drug maker.
The $117 billion takeover offer was Pfizer's final offer and was rejected by the U.K. drug maker, as it failed to take into account experimental drugs in its pipeline and also the risks it presented to shareholders. The deal valued AstraZeneca at $92 per share, but the company said something closer to $98 per share would represent the true value of the company.