NEW YORK (TheStreet) -- Shares of AstraZeneca Plc (AZN) are slightly higher in active trading as the London-based biopharmaceutical company considers strategic options to thwart a takeover by Pfizer (PFE), according to the Financial Times.
The company is considering selling the rights to some of its future revenues in a move that would boost its cash reserves, as it works with bankers to explore the sale of future income streams from some of its existing medicines, sources told the FT.
That would bring in billions of dollars in cash which could be returned to shareholders or used to fund R&D. It would also make the company less attractive to Pfizer, by denying it access to some future revenues in the event of a takeover, the FT said.
TheStreet Ratings team rates ASTRAZENECA PLC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ASTRAZENECA PLC (AZN) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."