S&P cuts AstraZeneca view to negative

Standard & Poor's said it lowered its outlook on AstraZeneca plc to negative from stable and affirmed the long- and short-term corporate credit ratings on AstraZeneca at AA-/A-1+.

"The outlook revision reflects our view that the expiry of patents for its leading drugs could continue to erode AstraZeneca's key credit metrics. We believe that the group's newly released strategy, which focuses mainly on cost cutting and organic development, will likely not meaningfully mitigate expected continuing short-term negative effects on credit quality," the agency said.

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