The company posted a long string of disappointing quarters, coming in well below Wall Street expectations.

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After the scandal, Murdoch stepped down from a string of company directorships and abandoned a multibillion-dollar bid to acquire satellite broadcaster BSkyB.

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Moreover, the company has had a string of regulatory disappointments with medicines like indiplon, a sleeping pill, and more recently an antipsychotic that it was developing with Akzo Nobel.

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