AstraZeneca PLC
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Health Care : Pharmaceuticals | Large Cap Blend
Based in United Kingdom
Company profile

AstraZeneca PLC is a biopharmaceutical company. It focuses on discovery and development of products, which are then manufactured, marketed and sold. It focuses on three main therapy areas: Oncology, Cardiovascular, Renal & Metabolic (CVRM) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience. In CVRM, it is expanding its portfolio into the cardiovascular-renal area with roxadustat, as well as investing to explore the benefits of its SGLT2 and GLP-1 franchises in chronic kidney disease (CKD) and heart failure (HF). It has approximately 38 projects in Phase I, including 26 new molecular entities (NMEs), and 12 oncology combination projects. It has approximately 43 projects in Phase II, including 25 NMEs; six additional indications for projects that have reached phase II, and 12 oncology combination projects. It has approximately 22 projects in late-stage development, either in Phase III/pivotal Phase II studies or under regulatory review.

This security is an American depositary receipt
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Premarket

Last Trade
Delayed
$54.43
-0.36 (-0.66%)
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Closing Price
$54.79
Day's Change
0.00 (0.00%)
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Volume:
21,719

10-day average volume:
5,574,523
21,719

Crypto is 'not a fad' says Morgan Stanley CEO Gorman, 'It's not going away'

3:11 pm ET October 14, 2021 (MarketWatch)
Print

By Mark DeCambre

'Nobody's putting 10% of their portfolio into it,' Gorman said

It's Jamie versus James. James Gorman, CEO of Morgan Stanley doesn't know where prices of bitcoin or its ilk will be in the coming days but he knows one thing. "It's not a fad...it's not going away," he told CNBC during a Thursday interview, referring to the nascent cryptocurrency industry as he also discussed the investment bank's third-quarter results.

Gorman's take on bitcoin and Ether on the Ethereum blockchain feels miles from his counterpart at JPMorgan Chase & Co. (JPM).

Earlier this week, Jamie Dimon offered what is becoming a relatively standard response to questions about crypto. "I personally think that bitcoin is worthless," said the JPMorgan CEO, speaking briefly at the annual Institute of International Finance event.

Morgan Stanley's Gorman isn't a full-throated bitcoin and crypto rally cry, but he is suggesting that there may be something more than fleeting to digital assets beyond the hype and bluster that sometimes surrounds it.

Gorman offered a fairly levelheaded assessment of virtual currencies that have increasingly gained mainstream attraction, with bitcoin knocking on the door of a record around $60,000 and companies and investors trying to figure out whether and/or how the asset fits into a balance sheet in an investment portfolio.

Gorman said of his observations of client behavior, of late: "Nobody's putting 10% of their portfolio into it...it's not a core part of their diversification strategy...it is an option" that they are looking at, he told the business network.

Morgan Stanley became one of the first banks to offer access to crypto among its qualified clientele earlier this year.

Of course, JPMorgan also is offering some crypto as well (and even created its own interbank digital currency), but the CEO's grudging acceptance of the emergence of digital assets has been off-putting to many crypto bulls.

"Our clients are adults...so, if they want to have access to buy yourself bitcoin, we can't custody it, but we could give them legitimate, as clean as possible, access," said Dimon.

Gorman notes that traditional markets, the 10-year Treasury note , the Dow Jones Industrial Average , the S&P 500 index , and the Nasdaq Composite Index , still represent the go-to investment areas for average investors.

-Mark DeCambre

	

(END) Dow Jones Newswires

October 14, 2021 15:11 ET (19:11 GMT)

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