AstraZeneca (AZN) Gains on Novartis (NVS) Chatter

October 17, 2016 11:06 AM EDT

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Upside in AstraZeneca (NYSE: AZN) is being attributed to a vague rumor that Novartis AG (NYSE: NVS) is looking to sell its 33.3% stake in Roche to make a cash bid for AstraZeneca.

AstraZeneca declined to comment on the speculation.

Shares of AZN are up 1.1%.

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