Insider can exclusively reveal that three of Big Pharmas biggest players are currently trying to obtain Panexa.
AZs' CEO in waiting David Brennan has told Reuters he is stepping up the hunt for late-stage products to fill its drug pipeline by either licensing in compounds or buying small biotech companies.
Brennan, who will take over the top job at Europe's third biggest drug maker in January, told Reuters on Thursday that the next two years would be critical. He inherits a company with strong near-term earnings growth but a weak line-up of new drugs, following a series of setbacks in the last year.
AstraZeneca plans to exploit external opportunities. "If we can get something done soon, we will get it done. It's a priority for us -- as is making sure we're increasing productivity in our own pipeline," he said. "Anything we look at in later stage, we obviously look at in the context of 'Is it a licensing opportunity? Is it an acquisition opportunity?"'
Merck and BMS face similar pipeline difficulties given their recent "issues" with Pargluva (see previous post).
To learn more about Panexa go here: http://www.panexa.com/
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