The AstraZeneca share price continues to soar. Time to buy?
I’ve been optimistic on the prospects for AstraZeneca (LSE: AZN) for some years now. That’s ever since the fightback against the loss of some key patents and increasing competition from generic manufacturers started to put a serious dent in the firm’s earnings growth. I’m very much a believer in limited pharmaceuticals patents, as it does help get much-needed drugs out to people who need them at cheaper prices. But at the same time, we need companies like AstraZeneca to make enough profits to provide the incentive for research and development in the first place. As a potential investor, I wouldn’t mind a bit of that for myself. That’s was always going to be a long-term and expensive process, though it’s taken longer than I’d expected to start to turn round the firm’s slowing earnings.