After recently tying up a nearly $7 billion deal with Japan’s Daiichi Sankyo for a next-gen breast cancer program, AstraZeneca is happy, for the most part, to focus on its own pipeline and not go after deals.
Speaking to reporters during its second-quarter financials call this morning, the U.K.-based Big Pharma’s CEO Pascal Soriot said: “Our focus is on our pipeline and delivering on our planned growth, improving our operating margin and our cash flow. That is our absolute focus today.”
But, and it was ever thus, Soriot said the company “would remain open to opportunities that come our way” if they are at the “right price” and can add value, like he sees with the Daiichi deal.
He did add, however, that there are “not so many opportunities” for M&A, a common theme among Big Pharma CEOs, who typically bemoan the high prices at which many biotechs are being valued.
AstraZeneca was up 4% in early trading this morning, with sales growing (PDF) at a strong 17% (at constant exchange rates) for the first half, boosted by revenue coming in from new meds as well as a strong showing in China.
By Ben Adams
Source: Fierce Biotech
Airnov provides critical healthcare industries with high-quality, controlled atmosphere packaging, to protect their products from moisture and oxygen. The business has manufacturing facilities in the USA, France, China and India and employs around 700 people.
Takeda of Japan has partnered with Hong Kong-based Hutchmed, gaining the commercial rights to colorectal cancer drug fruquintinib outside of China for $400 million up front, plus $730 million in potential milestone payments. Takeda also will help develop fruquintinib, which can be applied to subtypes of refractory metastatic colorectal cancer, regardless of biomarker status, the companies said.
On April 3, Scangos, who’s been chief executive officer at Vir since the start of 2017, will hand over the reins to Marianne De Backer, Ph.D. De Backer comes over from Bayer, where she currently heads up pharmaceutical strategy, business development and licensing. Alongside her CEO appointment, De Backer is set to join Vir’s board of directors, the company said Wednesday.
