Stull, Stull & Brody Announces Class Action Against AstraZeneca PLC

NEW YORK--(BUSINESS WIRE)--March 2, 2005--A class action lawsuit was filed in the United States District Court for the District of Massachusetts, on behalf of all persons who purchased American Depository Receipts ("ADRs") of AstraZeneca, PLC ("AstraZeneca") (NYSE:AZN) between April 2, 2003 and October 11, 2004, (the "Class Period"). Also included are investors who acquired securities on foreign markets.

The Complaint alleges that AstraZeneca, a pharmaceutical research company, and certain of its officers and directors issued materially false statements concerning the results of the clinical trials of the Company's investigational oral anticoagulant Exanta, and the status and likelihood of the approval of the New Drug Application for Exanta. These statements caused the Company's stock/ADR prices to rise until September 9, 2004, when the U.S. Food & Drug Administration ("FDA") posted briefing documents on the FDA's website which raised previously unheard-of problems with Exanta. Then, on October 11, 2004, AstraZeneca issued a press release stating, that they received an Action Letter from the FDA for Exanta. The release stated that "the US Food and Drug Administration (FDA) did not grant approval for the investigational oral anticoagulant EXANTA(R) (ximelagatran)." On this news, AstraZeneca stock fell to $38 per share. During the Class Period, AstraZeneca traded as high as $51.20 per share on March 9, 2004.

“the US Food and Drug Administration (FDA) did not grant approval for the investigational oral anticoagulant EXANTA(R) (ximelagatran).”

If you acquired AstraZeneca securities between April 2, 2003 and October 11, 2004, including securities on foreign markets, you may, no later than March 28, 2005, request the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 30 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in both New York and Los Angeles.

If you have any questions with respect to these matters, please contact Tzivia Brody, Esq. at Stull, Stull & Brody by calling toll-free 1-800-337-4983, or by e-mail at [e-mail], or by fax at 212/490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.