Will AstraZeneca’s Patent Setback Put Off These Top Institutional Shareholders?

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AstraZeneca (NYSE:AZN) suffered a fresh patent setback with a U.S. court decision that a patent protecting its Pulmicort Repsules asthma treatment is invalid, which will allow a generic copy from Actavis, Reuters reported. This ruling comes as AstraZeneca has already been facing a large sales decline resulting from patent expiries on other medicines, influeincing teh $2.3 billion restructuring plan and further job losses that were announced by new CEO Pascal Soriot last month. On Tuesday, AstraZeneca stated that it strongly disagreed with the court’s decision and has been considering its next steps, including a possible appeal.

These institutional firms indicated owning shares of AstraZeneca in Q1 2013. They reported owning a total of 82,128 shares on 03/31/2013. The shares closed at $49.98 on 03/31/2013.

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Here are the ten largest positions in AstraZeneca at the end of March 31, 2013.

Fulton Bank N.A. held 82,128 shares on 03/31/2013 worth $4,104,000. This brought the portfolio total to 0.51 percent.

Allianz Asset Management AG held 16,411,812 shares on 12/31/2012 worth $775,786,361. This brought the portfolio total to 0.93 percent.

Wellington Management Co LLP held 15,693,883 shares on 12/31/2012 worth $741,849,857. This brought the portfolio total to 0.05 percent.

AllianceBernstein L.P. held 9,974,498 shares on 12/31/2012 worth $471,494,525. This brought the portfolio total to 0.57 percent.

Managed Account Advisors LLC held 5,056,735 shares on 12/31/2012 worth $239,031,866. This brought the portfolio total to 0.41 percent.

UBS AG held 4,450,614 shares on 12/31/2012 worth $210,380,526. This brought the portfolio total to 0.25 percent.

Ameriprise Financial Inc held 3,633,443 shares on 12/31/2012 worth $171,752,852. This brought the portfolio total to 0.13 percent.

Schafer Cullen Capital Management Inc held 3,465,809 shares on 12/31/2012 worth $163,828,793. This brought the portfolio total to 2.5 percent.

Federated Investors Inc /PA/ held 3,198,699 shares on 12/31/2012 worth $151,202,503. This brought the portfolio total to 0.67 percent..

Letko Brosseau & Associates Inc held 2,947,744 shares on 12/31/2012 worth $139,339,860. This brought the portfolio total to 1.34 percent.

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