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AstraZeneca: $200M Up Front

Moody Market Clips Targacept Despite Major Depression Deal

By Randy Osborne


Friday, December 4, 2009
The deal for Phase II adjunctive depression candidate TC-5214 with Targacept Inc. gives AstraZeneca plc backup if things go poorly for Seroquel-XR in the U.S. and leaves the biotech partner in an enviable cash position, though Wall Street mysteriously failed to rejoice over the second hookup between the two firms. (BioWorld Today)

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