AstraZeneca hiked its 2014 forecast for the second time this year. Sales were up by 5%. Instead of apologizing for a lack of growth, CEO Pascal Soriot could crow about the opposite. Revenue of $6.54 billion beat analyst estimates, and core EPS of $1.05 did the same.
With rampant speculation that Pfizer might renew its effort to buy AstraZeneca, one might assume the takeover target's CEO, Pascal Soriot, would be locked up in meetings, devising a strategy for fending off the latest offer. Not so. Instead Soriot has been hobnobbing at the European Society of Cardiology congress in Barcelona, doing his best to demonstrate that AstraZeneca can thrive as an independent company.
The U.S. Department of Justice closed out its probe of a key Brilinta trial--and without further ado. No additional label warnings. And certainly no forced withdrawal from the U.S. market.
Pascal Soriot has raised the stakes on AstraZeneca's turnaround. The chief executive plunked down $3.4 million to buy more of his company's shares.
Pascal Soriot says confidently that AstraZeneca will make its forecast of $45 billion in sales by 2023, the one it trotted out during its fight with Pfizer to convince shareholders it was best going it alone.
As the May 26 deadline for Pfizer to sweeten its $106 billion offer for AstraZeneca draws closer, a bevy of Swedish officials are now echoing the British government's concern that the deal will be bad for European business.
Reuters reports that British Prime Minister David Cameron is now demanding stronger guarantees that Pfizer's buyout of AstraZeneca won't decimate the country's science community and leave a host of employees jobless.
AstraZeneca CEO Pascal Soriot saw his pay fall last year along with the company's fortunes but that didn't keep large blocks of shareholders from displaying their distaste for the company's compensation outlay for him and board members.
In announcing first-quarter earnings Thursday, AstraZeneca CEO Pascal Soriot sounded as if he'd been reading the deluge of trend stories analyzing pharma's latest spate of M&A. In fact, he's ready to participate, with a couple of sales/spinoffs together worth about $15 billion, according to analysts
AstraZeneca is continuing its campaign to refashion its image as it tries to shake off past setbacks and unsuccessful units and turn analysts' attention to its brightest pipeline prospects, particularly in cancer.