Brennan’s Abrupt Departure Has Some Viewing AstraZeneca As A Buyout Target

A rough first quarter and news of the CEO’s decision to step down in slightly over a month leads to speculation that AstraZeneca could be an attractive M&A target for another pharma that might shut down the company’s struggling R&D effort and cash in on the existing portfolio.

There are many tactics for overshadowing bad news, but one of the most effective is to make even bigger news. AstraZeneca PLC succeeded on that front April 26 as the news that CEO and Board Member David Brennan was resigning, effective June 1, distracted many away from the reality of the multinational pharma's poor first-quarter financial performance.

Following on the heels of several late-stage drug-development setbacks in recent months and a looming patent cliff that threatens several of the firm’s top-selling drugs, AstraZeneca reported an 11% decline...

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