AstraZeneca continues to be Citi's preferred US pharma major

Analysts at Citi said that AstraZeneca was their preferred global US pharma major, as had been the case since 2014.

In particular, they highlighted the outfit's well calibrated risk appetite and proactive research and development.

That was on top of the recent indications from the group's chief executive officer that he intended to remain at the helm for the foreseeable future.

The analysts also mentioned several other potential positives, including a potential fit between Astra and Amgen on the latter's AMG-133 anti-obesity treatment, synthetic royalties to fund Astra's expansive pipeline, the potential for cost-plus distribution of danicopan to mitigate risk to the company's Soliris/Ultomiris, Covid-19 monolonals and reduced negativity around the risk to Tagrisso from Johnson&Johnson.

Citi was at a 'buy' on AstraZeneca with a 14,000.0p target price.