Not too long ago, pharmaceutical giant Astrazeneca reached a £200bn valuation—one of only a few London-listed FTSE 100 companies to do so.

The major milestone was a testament to CEO Pascal Soriot’s strategic overhaul over the past decade, which has steered Astrazeneca away from its historic focus on respiratory and primary care toward a successful portfolio of cancer drugs.

But that valuation has slipped by nearly a quarter in just two months. Astrazeneca’s market capitalisation has now fallen as low as £152bn.