Move over Sir Tom McKillop. AstraZeneca has a new boss and his cheque book is out! Watch out everyone: David Brennan is the new sheriff in town!
Just one day after AZ announced their "blockbuster" deal for a cardiovascular drug they now buying a cancer company.
Europe`s third-largest drug maker, will pay $210 million to buy Britain`s KuDOS Pharmaceuticals Ltd.
KPL makes cancer drugs based on enzymes that trigger repairs of damaged DNA. Such enzymes are believed to hold potential as cancer cell killers.
Of particular interest to AstraZeneca is an oral enzyme inhibitor known as KU 59436, which is in phase I clinical development, the Times of London reported Friday.
The deal is seen as a way for the big Anglo-Swedish pharmaceutical firm to boost a cancer drug pipeline that investors have complained of as being somewhat thin.
Insiders view. Good for Brennan! This "action man" is just what lazy AZ needs! Now lets see if this ex-US ops head can make the deep cuts that are so needed in the the companys' overweight European operations.
Look at the manpower: turnover ratios for their US vs EU businesses!
Well, somthing or someone will have to go to pay for the deals......wont they?
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