Pfizer y AstraZeneca: Son rumores? (y de otros mergers...)

"No hagas caso,esa jugada, 

son rumores, son rumores..."

El Venao

With big pharma companies seemingly intent on slimming down at the moment, the rumour that Pfizer is looking to acquire AstraZeneca (AZ) in a $101bn deal seems like a step back in time. 

 If confirmed, the deal would be much bigger than any consummated in the late 1990s and 2000s, including Pfizer's own $68bn acquisition of Wyeth in 2009, the $74bn merger that created GlaxoSmithKline (GSK) in 2000 and the $56bn acquisition of Pharmacia by Pfizer in 2002. 

A report in the Sunday Times suggests that talks between the two companies were actually held several months ago but have lapsed, adding that Pfizer is likely to try a hostile attempt as AZ resisted its initial overture. Meanwhile, other commentators have been quick to point out the merits of the deal. 

Pfizer would be able to tap into a reinvigorated AZ pipeline that has been bolstered with a series of licensing deals and acquisitions in the last couple of years, including the recent purchase of rights to a diabetes franchise formerly co-owned with Bristol-Myers Squibb (BMS) and a well-regarded cancer pipeline that includes a number of immunotherapies. 

For its part, the US drug major has a large pipeline - although it lacks candidates with big sales potential - and has a stated ambition to boost its position in oncology. The merger could also provide an opportunity for Pfizer to invest its approximately $70bn in cash reserves outside the US and reduce its tax burden and provide significant cost-saving opportunities. 

Meanwhile, Pfizer has started to emerge from a patent cliff while AZ is still facing expirations on key earners such as gastrointestinal therapy Nexium (esomeprazole) and cholesterol-lowerer Crestor (rosuvastatin). 

Analyst Andrew Baum of Citi said in a research note yesterday he expects Pfizer to "push aggressively" for a merger, while there is already speculation that the publicity surrounding the negotiation will flush out other potential suitors, including Novartis and GSK, that have been linked with AZ in the recent past. 

It has been argued that mega-mergers have been an exercise in destroying value in the pharma sector, with the challenges and disruption associated with bringing together two corporations outweighing the effect of combining pipelines, increased marketing muscle and cost-savings. 

However, a recent report from McKinsey & Co turned that viewpoint on its head, suggesting that at least in terms of shareholder value and profits mega-mergers worked and - in some cases - were critical for the long-term sustainability of the acquiring companies.(Ver)

US pharmaceuticals giant tells City it is keen to pursue the biggest ever foreign takeover of a UK company, and has been rebuffed by AstraZeneca for the second time 
Pfizer's statement to the City 
Astra shares soar 15%, pushing value to almost £60bn 
Ver

Ver también:
Pfizer confirms interest in AstraZeneca merger  

Pfizer has made a second attempt to buy AstraZeneca after an initial request was rejected in January.

Las compañías impulsan sus divisiones estratégicas y se desprenden del resto  (Ver)

A la espera de que se confirmen o desmientan los rumores que vinculan a Pfizer con una nueva macrocompra (la 'víctima' esta vez podría ser AstraZeneca), y de que los responsables de Allergan respondan a la oferta realizada por Valeant, cabría concluir que la nueva moda, dentro de las operaciones empresariales que tienen lugar en el seno de la industria farmacéutica, pasa por realizar adquisiciones más 'modestas', pero que sirvan para reforzar las divisiones estratégicas de las compañías, que a la vez se están desprendiendo de las que ofrecen peores perspectivas de futuro o que, simplemente, no resultan tan atractivas. El último ejemplo se puede encontrar en la operación a tres bandas anunciada por Novartis, de la que también participan GlaxoSmithKline (GSK) y Eli Lilly.

GSK y Novartis se alian para crear una "join venture" con sus carteras de autocuidado.
Ver











Mergers...

Slide: F.Comas/Curso Postgrado Mktg.Farmacéutico              Facultad Farmacia/Universidad Central de Venezuela (UCV)  

Ver:

Paralelismos..../ El llanto del "Ratón de biblioteca"

Ver también:

Novartis, Glaxo y Lilly: El triangulo de las "costuras"

PFIZER: We can´t do it...AstraZéneca, GlaxoSmithKline, Actavis(?)

There is speculation that with Pfizer's bid for AstraZeneca off the table for now, 

Ver:

Pfizer y AstraZeneca: Son rumores? (y de otros mergers...)

UK: Partido Laborista pide investigar oferta de Pfizer por AZ

Pfizer is considering other large pharmaceutical companies to pursue such as GlaxoSmithKline. In a previous article, I discussed that Pfizer needs to acquire a promising drug pipeline, such as the one AstraZeneca holds, to fuel future growth. Synergies with the acquired company in Pfizer's current areas of expertise would also allow it to offer shareholders more value once it spins off non-core assets like its generic drug business. 

GlaxoSmithKline has a market cap of about $118 billion, which is close to Pfizer's final bid for AstraZeneca valued at $120 billion. However, it is important to keep in mind that AstraZeneca's market cap prior to announcement of Pfizer's interest in the company was only $81 billion. Pfizer's initial bid placed a 30% premium on AstraZeneca's stock price prior to announcement and its final bid placed a 45% premium. Accordingly, a 30% premium to GlaxoSmithKline's current valuation would be $153 billion. For a company with a market cap of $190 billion and only $35 billion in cash, Pfizer seems unlikely to be able to swallow a pill as large as GlaxoSmithKline. 

Pfizer's desire for a tax inversion deal is high, but its options are limited.
  
 Ver:

´Tax inversions´..."ahí está el detalle" en Pharma M&A.

AstraZeneca still represents the best bet Pfizer has for ensuring future success by acquiring a strong drug pipeline and for exploiting tax savings that it says could amount to $1 billion annually.(Ver)

After being rejected by AstraZeneca Plc, Pfizer Inc. still has a chance to clinch the drug industry’s biggest deal. While Pfizer shelved plans in May to buy the U.K. company in a record-setting transaction, its plan B could be an even larger target, $118 billion GlaxoSmithKline Plc, according to Berenberg Bank. A takeover of London-based Glaxo, which has gotten about 8 percent cheaper in the past two weeks, would give Pfizer a lung-drug business and more vaccines. Another possibility, Irish-domiciled Actavis Plc at $57 billion, would offer a pipeline of new products and generic medicines. Either one may allow the New York-based company to move its headquarters abroad and lower its tax rate. In hunting for a deal, Chief Executive Officer Ian Read is looking to reduce taxes and restock a dwindling stable of patent-protected drugs. Without an acquisition, Pfizer will have almost no revenue growth over the next decade, analysts’ estimates compiled by Bloomberg show. Rather than falling back on share repurchases to boost earnings, Pfizer should have done a deal by now, SunTrust Banks Inc. said. “If they’re willing to go after AstraZeneca, they can obviously go after other sizable targets,” Kevin Kedra, an analyst at Gabelli & Co., a unit of Gamco Investors Inc., said in a phone interview from Rye, New York. “There’s not much to limit Pfizer except finding a deal that makes sense.”(Más)

Reputation Institute’s 2018 US Pharma RepTrak (cont)

Ver anterior:
Reputation Institute’s 2018 US Pharma RepTrak

11. Amgen. RepTrak Points: 67.9 
Amgen got a big win in May when the FDA approved its preventive migraine drug Aimovig, which is the first of a new class of medications that's going after the huge migraine market. 

12. Roche. RepTrak Points: 67.4 
Swiss drug company Roche is still one of the biggest in the world. In February, it acquired Flatiron Health, a cancer technology startup for $1.9 billion. 

13. Bristol-Myers Squibb. RepTrak Points: 66.7 
BMS is making a big bet its new investments into immunotherapy-combination drug s for combating cancer. 

14. Boehringer Ingelheim. RepTrak Points: 66.4 
The German pharmaceutical firm manufactures drugs not only for humans but for their pets as well. 
The company is now partnering up with some other big names to develop anti-diabetic medication. 

15. Eli Lilly. RepTrak Points: 66.0 
Lilly is the producer of Cymbalta, a drug widely used for depression. 
The company was also part of the cohort that had to jump ship on its Alzheimer's drug. 

16. AstraZeneca. RepTrak Points: 64.3 
AZ, known for producing Crestor - a drug that treats high cholesterol and triglyceride levels - saw a win in lung cancerdata in May this year, but suffered a setback from an Alzheimer's drug in June that failed to show signs of working. 

17. Teva. RepTrak Points: 64.3 
The Israeli company is a huge manufacturer of generic drugs. 
In December 2017, it cut 25% of its workforce, but its stock got a bump in February after Warren Buffett declared a stake in it. 

18. Takeda. RepTrak Points: 61.6 
Over the past year, Japanese drugmaker Takeda has been growing its global presence, first by sealing a deal with Ariad Pharmaceutics and then acquiring Shire, the maker of Adderall, for $64 billion. 

19. Mylan. RepTrak Points: 61.2 
It's been a bumpy year for Mylan. 
The drugmaker faced scrutiny over its EpiPen recalls,followed by outcry over generic drug pricing. 
In June, however, Mylan scored a key approval for a biosimilar version of the drug Neulasta, which could help save the US billions. 

20. Merck. RepTrak Points: 58.4 
Famous for drugs like Keytruda, Merck has had a bit of a comeback as a winner at ASCO with its positive melanoma data. But the company has had its share of bad headlines as well. In May 2017, Merck paid $60.2 million to resolve a lawsuit about its practices to delay entrance of generic drugs into the market. 
Merck was also accused that month of operating an anti-competition scheme. 
In August 2017, Trump called out Merck's CEO about lowering drug prices and increasing transparency in their operations. 
Merck, along with GSK and Pfizer were the only pharmaceutical companies to have a "weak" score, while the rest had "average" or "strong" reputations. 

21. GlaxoSmithKline. RepTrak Points: 57.4 
GSK just welcomed the first female big pharma CEO onboard in 2017. 
With that, came a reshuffling of 40% of the company's top management team in a bid to bring in new ideas. 

The drugmaker has seen increased competition in its core businesses: respiratory and HIV treatments. It entered into an open rivalry with Gilead over HIV drugs in November 2017. 

In April, the company's shingles vaccine was recommended by the US Center for Disease Control. 

However, in May, regulators in Europe and the US issued warnings about a link between the company's HIV drug, Tivicay, and certain birth defects. But just last month, the company's two drug HIV met goals in late-stage studies. 

"At GSK, our purpose is to help people do more, feel better and live longer and we accomplish this with our innovative medicines and vaccines. We have a legacy of ensuring people have access to our medicines and our vaccines, and we lead the pharmaceutical industry in the fight against so-called super bugs - all of which has been recognized by the Access to Medicine Foundation," GSK said in an email statement to Business Insider. 

22. Pfizer. RepTrak Points: 54.5 
Pfizer had the lowest reputational score among the pharmaceutical companies that Reputation Institute looked at, based on the general public's perception of product, prices and public hospitality. It was reported in May that Pfizer used charity to mask a heart drug price hike. Pfizer also had a huge role in the drug shortage crisis, according to Fortune. 

The drug giant is now taking some new risks and dipping its toes into some uncharted scientific territories like gene therapy and cancer immunotherapy. 

"Pfizer's reputation has remained consistent since 2017 and is on par with our multinational biopharmaceutical peers given the variance in reputation scores is limited. We look forward to continuing to educate our stakeholders about Pfizer's mission to discover new medicines and to ensure patients have access to them," Pfizer representatives said in an email statement to Business Insider. 
(Ver)

Pharma blogs: going beyond the press release?

The rise of personal blogging has grown in the past decade with millions taking to the internet to tell their stories and share their opinions. In recent years the impact of blogging as a social media strategy has not gone unnoticed by the corporate world, and pharma has been quick to get in on the act. 

Some of the better-known names have starting using this medium, albeit in slightly different ways. There are five main pharma firms now publishing blogs: Pfizer’s Think Science Now; GSK’s More than Medicine; LillyPad; AstraZeneca’s LabTalk; and Boehringer Ingelheim’s More Health. 

In many ways this has been a suprising move as the industry is generally conservative when it comes to broadcasting information to the public and press, and a blog suggests that posts may be more insightful and informal than the often formulaic press release. 

Most are updated fairly regularly each week with many sporting ‘guest posts’ by academics or public health figures, but the majority are written by an internal communications team, or by members of staff from the firm. 

GlaxoSmithKline’s More than Medicine blog is aimed specifically at the US with many of its posts speaking of the public health work it does over the world, as well as plugging editorial pieces mentioning the firm in the US media. 

Pfizer’s Think Science Now has a slightly different set-up as the site incorporates its entire social media into one place. The blog element is primarily made up of Pfizer staffers doing repeat posts on a range of topics, with Brian Nunnally, who is in charge of process validation for Pfizer US, the most prolific blogger with over 135 posts (at time of press). 

Pfizer’s posts have a more informal – or at least emotional engagement than many of its contemporaries. As an example, one of Nunnally’s latest posts speaks of his wife and children, whilst Jack Watters, VP of external medical affairs, writes recently about celebrating lesbian gay, bisexual and transgender Pride Month by highlighting the contributions of some notable LGBT scientists. 

The LillyPad blog is much more focussed on business and patient issues such as drug adherence, counterfeit medicines, highlighting editorial in newspapers and issues around patents and intellectual property. It is written predominately by one person - Amy O’Connor, who leads the digital government affairs team at Lilly - and who does inject an informal style at the beginning of some posts, before getting more serious. 

As an example of being more informal, her biography on the blogs states: “She [Amy] is a graduate of the University of Notre-Dame - Go Irish! - and the Georgetown Public Policy Institute - Hoya Saxa!” But some posts begin and end with a serious and often political tone. 

One blog piece from late August reads: “Even under ideal circumstances, intellectual property law is pretty complex (except for IP attorneys, of course). But the laws in Canada, as they relate to biopharmaceutical products, surpassed ‘complex’ some time ago. Maddening is probably a better word.” 

The post goes on to bemoan the problems in Canada where medicines can be taken off the market before a patent expires. This is a lot further and more political than many other firms will go on their blogs, and perhaps is indicative of the culture of Lilly, who’s chief executive John Lechleiter is well-known for his straight-talking on these kinds of issues (in fact it was Lechleiter’s editorial in a US newspaper that ‘inspired’ this post).  

AZ’s LabTalk is predominately about the impact of collaboration and success stories/the need for more success stories in scientific collaboration. This at times almost appears as a mating call to other firms and biotech companies; AZ has made no secret of its desire to partner with more organisations, and its communications team have clearly been made aware that this is its remit.  

Boehringer’s More Health mainly uses it blog to announce competition winners for certain awards, or to speak of its own successes in awards. It is also keen to plug the virtues of digital and social media; unsurprising given its penchant for this area. 
 (Más)

UK: Partido Laborista pide investigar oferta de Pfizer por AZ

LONDRES (Reuters) - El opositor Partido Laborista de Gran Bretaña solicitó el domingo una investigación sobre la posible adquisición de AstraZeneca por la farmacéutica estadounidense Pfizer, y acusó al Gobierno de "animar" la operación.

El viernes, AstraZeneca rechazó una propuesta de compra por 63.000 millones de libras (106.000 millones de dólares) de Pfizer, pero ahora se espera que la compañía estadounidense redoble sus esfuerzos por adquirir a la segunda mayor farmacéutica de Gran Bretaña.

"Necesitamos una evaluación más profunda sobre si esta compra es de interés nacional económico antes de que Gran Bretaña se permita apoyarla", dijo el líder laborista Ed Miliband en una carta enviada al primer ministro David Cameron.

Aunque el Gobierno ha conversado tanto con AstraZeneca como con Pfizer, ha dicho que no tiene intención de intervenir en el acuerdo, pues considera que es un asunto de los directorios y accionistas de ambas compañías.

Pero faltando un año para las próximas elecciones nacionales, que según los sondeos brindarían una victoria a los laboristas si los comicios se realizaran ahora, los comentarios de Miliband ponen énfasis en importantes asuntos que abordan la política y las finanzas.

Los líderes políticos quieren proyectar una imagen de preocupación por los intereses de Gran Bretaña y evitar la retórica nacionalista que pueda alejar a inversores extranjeros.

Los Ministros de la coalición han estado presionando a Pfizer sobre la protección de empleos y constante inversión en las instalaciones de investigación y desarrollo británicas. El viernes, el despacho de Cameron dijo que estaba evaluando algunas garantías provistas por el presidente ejecutivo de Pfizer, Ian Read.

Miliband dijo que la postura del Gobierno hasta ahora parecía estar alentando la oferta de Pfizer. (Más) 

Medicamentos 2020

AstraZeneca destacará entre los laboratorios y el Keytruda, de MSD, entre los productos. 

Eduardo Ortega Socorro 24 enero, 2020

2020 ha empezado y promete ser un año importante para la industria farmacéutica a escala global. Aparcado el debate sobre los precios de los medicamentos en el mercado más importante del mundo, Estados Unidos, por la campaña electoral, la eclosión del desarrollo de varios productos contra el cáncer conlleva pingües ventas para determinados laboratorios, con sorpresas entre los que más facturación adicional van a tener.

Y es que en el top ten de empresas que más van a impulsar el mercado (ojo, esto no significa que sean las que más facturen) llama la atención que no estén viejas conocidas como Pfizer o Roche, multinacionales que en cambio sí figurarán, salvo sorpresa mayúscula, en el podio de facturación total.

Así lo indica el análisis al que ha tenido acceso EL ESPAÑOL de la consultora Evaluate, y que precisa que la gran triunfadora de 2020 será el laboratorio británico AstraZeneca. Mientras Boris Johnson negocia el brexit con la Unión Europea, la compañía británica seguramente se embolse unos 3.250 millones de dólares adicionales respecto a 2019.

De absorción a la gloria

La historia de AstraZeneca es curiosa. En 2014, la compañía anglosajona acordó su compra por la todopoderosa Pfizer. Sin embargo, la operación fue percibida por la Administración Obama como una fórmula por parte del fabricante de Viagra para acogerse a la fiscalidad británica, inferior a la yanqui en aquel entonces.

Ver:

Pfizer y AstraZeneca: Son rumores? (y de otros mergers...)

Santander propone un dividendo de 0,13 euros: consulta las fechas clav El efectivo será de 0,10 eros y el scrip de 0,03 euros Sus acciones cayeron ante el freno a la compra, pero Pascal Soriot, su CEO, aprovechó para para reconstruir la compañía. A través de un nuevo modelo de I+D basado en la open innovation, es decir, en la colaboración con grupos de investigación, públicos y privados, externos, ha logrado formular un interesante pipeline destinado a lanzar sus ventas en el área oncológica.

Ver:

AZ: Se busca...conductor de recambio?

Tagrisso (osimertinib es su nombre por principio activo) es el principal producto que va a conducir a esta compañía a esta posición de liderazgo en 2020. 
De hecho, será el séptimo producto que más nuevas ventas generará este año.

La inmunooncología, en lo alto

Sin embargo, el medicamento más destacado en este sentido será Keytruda, el exitoso pembrolizumab de MSD (también conocida como la 'Merck americana' en España) que no hace sino ganar indicaciones en diferentes tipos de cáncer y mutaciones tumorales en los últimos años.

Ver todo sobre Keytruda en PHARMACOSERÍAS

De hecho, solo con las nuevas ventas de este fármaco MSD facturará unos 3.290 millones de dólares. Muy de lejos, en segundo lugar, queda el Biktarvy, la triple terapia en VIH de Gilead (compañía que en su momento lanzó el conocido sofosbuvir, el primer fármaco curativo en hepatitis C) de la que se esperan unos ingresos adicionales de 1.170 millones de euros.

Ver:

Una docena de blockbusters para 2018...

Con la medalla de bronce, según Evaluate, se quedará Revlimid, cuyo principio activo es lenalidomida. Este fármaco para el tratamiento del mieloma múltiple y la leucemia linfática crónica se pronostica que logre en 2020 unos 1.170 millones.

Una compra el éxito 

Este producto es fruto de la investigación de Celgene y de cuya facturación se va a beneficiar Bristol Myers-Squibb (BMS) tras comprar la compañía biotecnológica americana. De hecho, permite que sea la segunda compañía con más expectativas de ventas nuevas

Ver:

BMS to acquire Celgene for $74 billion in biggest-ever pharma deal

Sin embargo, Evaluate también avisa de que en 2022 BMS perderá la patente de Revlimid, así que la farmacéutica se tendrá que poner las pilas para buscar productos que acompañen su inmunoterapia oncológica Opdivo.

Precisamente, su gran rival en este campo, MSD, es la tercera compañía (un gigante farmacéutico, con patas en casi todas las áreas terapéuticas, incluida la de las vacunas y la veterinaria) con mayores expectativas de lograr más ventas adicionales y dinamizar el mercado.

Rumored Gilead-AZ make sense?

• AZN trades at a high multiple buoyed by pipeline optimism and strong growth trajecto

• Very little therapeutic overlap with GILD makes a combination scenario lacking in strategic logic.

• GILD has a more troubled pipeline outlook, and it makes much more sense for AZN to go it alone given their rosy prospects.

• Although it would be EPS accretive given prevailing rates, a strong ROI is very unlikely given the premium to be paid and the Remdesivir run-up in GILD's price.

• The synergies do not seem to be there for this combination to ever become more than just a rumor.

Mas


Six years ago, AstraZeneca CEO Pascal Soriot fought off Pfizer’s $118 billion takeover attempt. Now, the defender is reportedly playing offense, going after a deal of similar size. 

Ver:

AZ "con flores a...." GILEAD.

The British pharma informally approached Gilead Sciences last month to gauge its interest in a merger, Bloomberg reported, citing people familiar with the matter.

Gilead, whose stock price has climbed about 17% this year on news its remdesivir can tackle the novel coronavirus, was worth $96 billion at Friday’s close. AstraZeneca, with a University of Oxford COVID-19 vaccine project, comes with a market cap of about $140 billion. At the current value, the deal, if completed, would set a new record for pharma M&A, eclipsing Bristol Myers Squibb’s $74 billion acquisition of Celgene last year.

That’s a big if. According to Bloomberg, the talk was in very early stages, as AZ didn’t detail any specific terms and Gilead hasn’t made a decision on how to move forward.

The U.S. biotech doesn’t seem interested in selling. It’s focused on forming its own partnerships and completing smaller acquisitions rather than considering a merger with a big pharma company, the people told the news service.

At least two Wall Street analysts were skeptical of a potential deal. “We do not view this deal as likely,” Jefferies’ Michael Yee wrote in a Sunday note to clients. He pointed out that Gilead believes its HIV franchise, led by fast-growing Biktarvy, is underappreciated and “would prefer to build value over time and do its own tuck-in deals.”(Más)

AstraZeneca lo hace mal y paga...

En febrero publicamos:

Medicina basada en el ´marketing´ (II)

basándonos en lo publicado por Ainhoa Iriberri en PUBLICO.
Se denunciaban las prácticas internas (ghostwriting) de AZ para maquillar resultados de investigación clínica haciéndolos "acordes" a los intereses del marketing.

Ahora "paga":

"AstraZeneca has completed a deal to pay $520 million to settle federal investigations into marketing practices for its blockbuster schizophrenia drug, Seroquel. The Justice Department plans a news conference on Wednesday to disclose details of the case, according to two people close to the negotiations who were not authorized to discuss it publicly.

.../...

The company was facing two federal investigations and two whistle-blower lawsuits involving Seroquel sales and marketing practices. One of the investigations related to physicians who had participated in clinical trials. The other inquiry involved sales staff. Details are expected to be announced Wednesday.

Prácticas en las que, añade The New York Times, no está sola:

"The company will join a series of American pharmaceutical companies that have admitted to illegal marketing after federal investigations and whistle-blower filings and have signed agreements with the government to monitor and avoid such activity in the future.

In the largest such case, Pfizer paid $2.3 billion last September, including $1.3 billion in the biggest criminal fine of any type in United States history, for off-label marketing of the painkiller Bextra and other drugs. Bextra was withdrawn from the market in 2005. The Pfizer fine included $301 million for off-label marketing of its antipsychotic drug Geodon.

Eli Lilly paid $1.4 billion in January 2009 to settle investigations into illegal marketing of its antipsychotic drug Zyprexa. Lilly’s settlement included a $515 million criminal fine, which until the Pfizer case was the largest such fine ever imposed on a corporation.

In 2007, Bristol-Myers Squibb and a subsidiary paid $515 million to settle federal and state investigations into marketing of its antipsychotic drug Abilify."

AZ: La rebelión de los inversionistas

.

AstraZeneca’s investors are repeating history with a revolt against executive pay. Almost 40% voted against CEO Pascal Soriot’s 2016 compensation package on Thursday, just about the same percentage that tossed tomatoes at the numbers back in 2014.

Ver:
Cuanto ganan los que más ganan en Pharma...


This time around, Soriot’s compensation total was much higher—£13.4 million, or about $17.3 million—compared with the £3.34 million ($5.6 million), plus potential performance awards of £4.35 million, that touched off the revolt three years ago. 

 This year’s vote also follows some restiveness over the last two years as leading shareholders called on AstraZeneca’s board to tie Soriot’s pay more directly to the $45-billion-by-2023 revenue goal he set when Pfizer was trying its takeover. That goal, which some analysts called laughably ambitious at the time, is no less aggressive now, and Soriot himself has since said the company would be "lucky" to hit it. 

 The 39% vote against AZ’s 2016 compensation report has no direct consequences. It’s advisory only. The binding vote on compensation, which applies to the coming year’s remuneration plans, was in favor, almost unanimously, with 96% backing the scheme. 

“AstraZeneca engaged extensively with its major shareholders on remuneration matters during 2016,” the company said in a statement, adding that the proposals for the coming year were based on shareholder feedback. One change, the company said in its annual report, is the demise of the AstraZeneca Investment Plan (AZIP), previously used to deliver performance awards. (Más)

"TOP TEN" 2007

La vida sigue igual...Tan solo sube WYETH y LILLY baja...
AZ, ROCHE, WYETH y ELI LILLY crecen por encima del 10%.
Los tres primeros decrecen.
Se imaginan lo que sería NOVARTIS+ROCHE...46.4 B y # 1 en el Ranking...
Es tan solo una "hipótesis", "futurología barata"...

(Ánimo Daniel)

A LIPITOR no lo para nadie...

Lo dijimos, y lo volvimos a repetir... hace ya meses: ONCOLOGÍA
PFIZER apuesta duro por I+D. Será que lo que le queda ya "da poco de si..."
Y AZ...? Exceso de confianza...?



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