PHARMACEUTICAL giant Astra Zeneca is this week expected to announce a deal to acquire smaller rival Cambridge Antibody Technology, it was reported today.

Pharmaceuticals giant Astra Zeneca is this week expected to announce a deal to acquire smaller rival Cambridge Antibody Technology, it was reported today.

The new boss of AstraZeneca today said the drugs giant must do more to bolster its product pipeline in the wake of a number of high-profile set-backs in clinical trials.

Shares in drugs giant AstraZeneca today fell 4% after an American court ruled patents covering a key heart drug were invalid.

Investors received a post-Christmas boost today as utilities helped the FTSE 100 Index move above the 5600 barrier.