Bernstein Research analyst Tim Anderson said in a note to clients that something has to give with AstraZeneca.
The English drugmaker, which has a big operation in Wilmington and Newark, Del., has struggled to deal with the common ailments of big pharma companies: loss of patent protection for top-selling drugs, pipelines not producing blockbuster replacements and pricing pressure from public and private insurers.
The company has cut jobs several times in the last two years.
The synopsis of Anderson's note is here and the "we" refers to Anderson and Bernstein Research:
Anderson didn't say that would happen. He just ran numbers on the possibilities, but also suggested acquisitions under $10 billion are most likely.
Meanwhile, the patent problem was brought home Friday morning when AstraZeneca said in a statement on its website that the U.S. Food and Drug Administration had denied AstraZeneca's request to delay approval of generic competitors to its top-selling antipsychotic Seroquel over labeling issues.