LONDON (AP) — Pharmaceutical giant Pfizer said Friday that it hasn’t given up on a deal after British drugmaker AstraZeneca flatly rejected its latest takeover bid, worth $106 billion.

Pfizer Inc., the world’s second-biggest drugmaker by revenue, made a third unsuccessful attempt for its London-based rival Friday with an offer of 50 pounds ($84) per share in cash and stock —a 7.3 increase from its last bid. AstraZeneca Plc, the No. 8 drugmaker, called that inadequate and said the potentially lucrative “pipeline” of new drugs it is developing would be disrupted by a takeover.