For Pfizer Chief, The First Order Of Business Is Research
This article was originally published in The Pink Sheet Daily
Executive SummaryIn Read's first presentation to investors, the new chief executive laid out plans to reorganize research as part of a strategy to improve productivity and cut spending by $1.5 billion in 2012.
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CHMP Chairman Tomas Salmonson re-elected for three-year term; Sandoz and AstraZeneca develop manufacturing facilities in Austria and the US respectively for biosimilars and biologics, among investments suggesting European pharmas' more confident outlook; more in this month's column
European Notebook: Price Cuts Planned In France; IPO Window Thrown Open; European Big Pharmas Pursue Major Deals
Increased optimism about economic growth in Europe has been followed by IPOs becoming more common among the region’s biotech companies; there’s a speculation frenzy about M&A; and with European parliamentary elections in May, further regulatory and legislative changes are likely later in the year.
VCs address the need for new capital at the U.K’s BioTrinity partnering and investor meeting; France and Germany move to work together on translational drug research; and France’s suspension of Bayer’s Diane 35 shows its tougher regulatory line.