While explaining some fresh dents in earnings and revenue for the second quarter, AstraZeneca officials made it clear that they would continue to invest in new products--hitting the accelerator on more dealmaking in an effort to break out of a painful slump brought on by years of star-crossed R&D work and a dwindling pipeline.
A few high notes in its second-quarter report--notably growth in China and an increase in Brilinta sales--give some support to CEO Pascal Soriot's attempts to strike a positive tone.
Rumors are swirling that AstraZeneca may have its sights set on the Korean biosimilars maker, and a buyout would give the British drugmaker--or any of its rivals--an established biologics plant in a strategic location, and one that's expanding, at that.
Celltrion confirmed Wednesday that its largest shareholder is in discussions with financial adviser JPMorgan but stressed in a statement that "no definite structure, decision or buyer regarding the stake sale has been determined."
Quoting sources close to the deal, Korea's Financial News says that Celltrion hooked AstraZeneca's interest after it began to cast around for a merger deal a few months ago.
AstraZeneca CEO Pascal Soriot has taken another step forward in his turnaround campaign, committing $350 million in cash and up to $465 million in milestones to partner up with FibroGen as it positions a lead anemia drug for late-stage trials.
Dotmatics is the latest of several software companies to win business from the virtual neuroscience unit at AstraZeneca. AstraZeneca's decision to forge ahead in this area has been a boon for software companies.
AstraZeneca, Novartis and Pfizer are still in the hunt for Onyx Pharmaceuticals, Bloomberg 's sources say. And Amgen, which triggered the whole bidding process with an unsolicited offer last month, hasn't given up either.
The Chinese pharma crackdown just keeps on widening. Now, a U.S. citizen has been detained in connection with the corruption probe, Reuters reports. And two more AstraZeneca employees have been interviewed after a sales rep was taken in for questioning late last week.
Police visited AstraZeneca's operations in Huangpu Friday and took a sales rep away for questioning, Reuters reports. The company said the visit was part of a "local police matter" and tried to distance itself from the fast-moving GlaxoSmithKline bribery scandal.