17 December 2010 – Brilinta response letter

The US Food and Drug Administration (FDA) has issued a complete response letter for the New Drug Application for Brilinta. The FDA has requested further information about a key study, which will result in further delay. Brilinta is seen as a key pipeline product and the news has seen the shares initially move down from the previous day’s close of 3153p. Although this is a setback we continue to believe that the shares represent good value and keeping the healthy yield in mind rate them as a BUY.