AZ Taps Outsider Soriot As CEO, While Roche Anoints 25-Year Veteran O'Day To Head Pharma Division
This article was originally published in The Pink Sheet Daily
AstraZeneca has appointed an experienced biotech and pharmaceuticals executive, Pascal Soriot, to its vacant CEO position, while Roche switches Daniel O'Day from its diagnostics to its pharmaceuticals division.
You may also be interested in...
The U.K. drug maker flaunted its dramatically improved pipeline to investors Nov. 18, highlighting oncology specifically, a new “growth platform.” But will investors be persuaded to wait three years for growth?
AstraZeneca unveiled an R&D restructuring March 18 that will consolidate research to three locations and reduce headcount by 1,600, but the company will have to be dogged in its effort to relocate key employees if it is to ensure the changes don’t disrupt its broader goal of accelerating the pace of R&D.
AstraZeneca will accelerate development of several mid-stage assets into Phase III and turn aggressively to business development under CEO Pascal Soriot’s strategy to transform the company, even as it shores up its P&L with more job cuts.