Astrazeneca shares jump as it kicks off $2bn drug pipeline investment

Astrazeneca’s share jumped in early trading on Friday, as investors cheered plans to bolster its drug pipeline. The pharmaceutical giant’s shares increased 3.1 per cent to £134.50 on Friday morning, as it launched a $2bn (£1.5bn) restructuring programme to boost investment in its drug channel.  The FTSE 100 company said the three-year programme would shift resources across both its business and therapy areas to deliver $1.5bn in annual savings which will be allocated to the programme. The plans come as the group looks to grow beyond its headline target of generating $80bn by 2030 and recover from recent trial setbacks as well as the loss of patent protection to three big cancer drugs early next decade. Shares had weakened earlier in the year following problems with trials, including heart disease drug Wainua, coupled with investor concerns on its potential $400bn blockbuster merger with Bristol Myers Squibb. The Cambridge-based business has notched a 7.7 per cent share p