Exclusive: AstraZeneca’s outgoing R&D chief Mene Pangalos reflects on a 14-year R&D turnaround and the industry's future
When AstraZeneca R&D executive Mene Pangalos joined the company in 2010, the UK drug giant was facing existential threats: shrinking sales, a meek pipeline and a takeover attempt by Pfizer.
Pangalos saw the biggest problem: AstraZeneca’s research wasn’t delivering. AstraZeneca had a 4% success rate in bringing drugs through Phase III, trailing a 6% industry average. He pushed a new focus on quality over quantity that, from 2012 to 2016, drove AstraZeneca’s success rate to 19% — even as the industry average fell to 4%.
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