Astra Zeneca (AZN) was down over 3% this morning to £28.32 as concerns about whether its bowel cancer drug, Recentin (cediranib) in a head to head phase III clinical against Roche's Avastin would be positive when results are released in the first half of 2010 (Horizon III trial). The stock also went ex-dividend today. Recentin failed a final stage clinical in lung cancer in 2008 and focus is now on colo-rectal cancer.
Contrarian Investor believes a good entry point for AZN would be around the £25 mark.
