AstraZeneca trumpets progress in cancer drugs

London - AstraZeneca, determined to show it has a strong independent future after seeing off a $118bn bid from Pfizer in May, said it had made good progress in developing a pipeline of new drugs.

The company flagged its "industry-leading" portfolio of immune-boosting cancer drugs and said that across all disease areas it had the potential to secure between eight and 10 approvals for new medicines in 2015 to 2016.

AstraZeneca executives will present further details at a six-hour investor meeting later on Tuesday. The event comes just eight days before British takeover rules allow Pfizer to renew its pursuit, an option some investors now see as unlikely.