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Reuters: Analysts, investors say AstraZeneca CEO Soriot taking correct steps

Drugmaker AstraZeneca still faces huge challenges amid a changing healthcare landscape, but a Reuters story Monday quotes a couple investors and an analyst as saying chief executive Pascal Soriot is making slow, if uncertain, progress.

Reuters: Analysts, investors say AstraZeneca CEO Soriot taking correct steps

AstraZeneca´s facility in Wilmington, Del.
AstraZeneca's facility in Wilmington, Del.

 Drugmaker AstraZeneca still faces huge challenges amid a changing healthcare landscape, but a Reuters story Monday quotes a couple investors and an analyst as saying chief executive Pascal Soriot is making slow, if uncertain, progress.

AstraZeneca is now based in London, but Soriot has said the company will shift headquarters to Cambridge, United Kingdom, in hopes of being closer to academic and research people. AstraZeneca still has a lot of folks in Wilmington and Newark, Del., even after cutting thousands of jobs and moving others to Gaithersburg, Md.

As always, the caveat with investors and and some analysts is that positive comments can raise the stock price.

"He is focusing on the appropriate areas like bolt-on rather than major acquisitions, restructuring management and shifting R&D to Cambridge," one of AstraZeneca's 30 largest shareholders said, speaking on condition of anonymity, according to the Reuters story. A link is here.

"When I talk to people in the industry about AstraZeneca, it is a place where people now want to go and work - and that hasn't been true for about 10 or 15 years," said Dan Mahony, a fund manager at Polar Capital, who has raised his stake in the company in the past year.

 

David Sell
About this blog
David Sell blogs about the region's pharmaceutical industry. Follow him on Facebook.

For Inquirer.com. Portions of this blog may also be found in the Inquirer's Sunday Health Section.

Reach David at dsell@phillynews.com.

David Sell
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