BUSY SCHEDULE | Chemical & Engineering News
Volume 90 Issue 31 | p. 29
Issue Date: July 30, 2012

Busy Schedule: Amid Setbacks, AstraZeneca Has Been Revamping And Making Deals

Department: Business
Keywords: pharmaceuticals, R&D, M&A, biotech, pharma strategy, mergers

Dec. 20, 2011 Development of the ovarian cancer drug olaparib is dropped, and the depression drug TC-5214 fails. AstraZeneca takes a $382 million charge.

Jan. 19, 2012 FDA asks AstraZeneca and partner Bristol-Myers Squibb for more data on diabetes drug dapagliflozin.

Feb. 2 Restructuring is unveiled. Some 7,300 jobs—2,100 in R&D—are planned to be cut, and R&D facilities in Canada and Sweden are slated to close.

March 27 Generic versions of AstraZeneca’s multi-billion-dollar psychosis drug Seroquel are launched.

April 2 AstraZeneca pays $50 million to Amgen for the rights to codevelop five Amgen antibodies.

April 23 AstraZeneca acquires Ardea Biosciences for $1.26 billion. The deal brings clinical-stage compounds for gout and cancer.

April 26 AstraZeneca CEO David Brennan steps down; Simon Lowth is named interim CEO.

May 3 AstraZeneca and other companies team with the National Institutes of Health and academic investigators to find new uses for old drug candidates.

May 24 AstraZeneca joins a consortium for new antibiotics. Drug companies commit $140 million to the effort.

June 30 BMS agrees to buy Amylin for $7 billion. AstraZeneca says it will pay $3.4 billion for an equal stake in the diabetes drug firm.

 
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