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NOVEMBER 19, 2008, 9:12 A.M. ET

2nd UPDATE: Astrazeneca Shrs Fall On Fresh Pipeline Concerns

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LONDON (Dow Jones)--Astrazeneca PLC's (AZN) shares fell nearly 5% Wednesday after the drug maker said a generic version of its asthma treatment Pulmicort won U.S. approval and its lung cancer treatment Zactima failed to achieve its primary endpoint in two out of three Phase III trials.

Both announcements highlighted concerns about the group's drug pipeline and at 1400 GMT Astrazeneca shares were down 4.7% at GBP26.74.

Following approval Wednesday by the U.S. Food and Drug Administration to market the generic version of Pulmicort, ...