Coughing blood

Is that a cough or something more serious? Investors might be forgiven for asking that question after Pfizer dropped the rights to sell Altana’s Daxas. The German drug and chemicals conglomerate had been counting on its treatment for smokers’ cough and emphysema to be a blockbuster. Investors’ are no longer so sure, and had marked down Altana’s stock by 12% at midday on Friday. Altana says the drug is still on course to be a blockbuster, and that other companies are interested in selling the dr...