NEW YORK (TheStreet) -- Pfizer (PFE - Get Report) dipped Tuesday after AstraZeneca (AZN) detailed its plan to increase sales in the next decade as an independent company as Pfizer continues to pursue a takeover of the British company.
AstraZeneca said in a statement investors would benefit from a "strong and consistent revenue growth" as annual sales would increase to more than $45 billion by 2023. The company posted sales of $25.7 billion last year.
The British company again rebuffed Pfizer's takeover bid on Friday. Pfizer's third offer was for approximately $106 billion, but the No.8 drugmaker called this offer inadequate and said a buyout would disturb its new drugs in development.
Must Read: Warren Buffett's 10 Favorite Growth Stocks
The stock was down 1.54% to $29.50 at 3:01 p.m.