BioRegnum: Another great reason emerges for AstraZeneca to target new biotech deals
The view from Endpoints
The pressure on AstraZeneca CEO Pascal Soriot to get its global R&D operation to perform while executing new deals just soared. The pharma giant has lost a bid to keep cheap generic versions of Crestor off the market. That drug earned some $5 billion of the $23 billion it made last year.
To put this into a perspective that must be increasingly uncomfortable at the pharma giant, AstraZeneca will soon have a new, blockbuster-sized hole to fill as investors continue to insist that the company keep its promise to hit $45 billion in sales in just seven more years.
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