AstraZeneca stock surged 4.5%, while Teva stock fell almost 4% by Friday's close.
AstraZeneca said it never responded to the rumors of Soriot's departure, which were first reported by Israeli business news site Calcalist. AstraZeneca confirmed on Friday that Soriot will present the company's earnings July 27. Company insiders said things are business as usual at AstraZeneca.
What's Hot On TheStreet
More issues for food makers: As if food makers such as Kraft Heinz (KHC) and grocery retailers like Kroger (KR) and Walmart WMT didn't have enough issues on their plate thanks to Amazon's (AMZN) advances.
A significant demographic headwind could add further pressure on the packaged food and grocery store sectors in the years ahead, according to Wolfe Research analyst Scott Mnushkin. The U.S. government reported recently that the fertility rate in the U.S. (births per 1,000 women) hit a record low of 62.0 in 2016, with the number of births down about 1% from the prior year. With births declining and immigration slowing, population growth in the U.S. has stalled.
For the aforementioned sectors, Mnushkin points out, it's critical households are formed in order for demand to materialize. The fact that's not happening at a decent clip is troublesome.