Thursday, October 25, 2012

AstraZeneca CEO: Expect to Update on Strategy End-January 2013 | Fox Business


AstraZeneca PLC's (AZN) new chief executive, Pascal Soriot, said Thursday he expects to be in a position to update investors on his strategy to revive the drug maker's fortunes from late January at the earliest.
On a conference call with reporters, Dr. Soriot, who started his job earlier this month, said he wanted to take as much time as he needed to complete a review of the business before making any decisions, and had been meeting investors and staff as he considered the options for the troubled company.
AstraZeneca said earlier that third-quarter net profit fell by more than 50%, due to a sharp decline in revenue driven primarily by the loss of patent protection on its antischizophrenia drug Seroquel IR.

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