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AstraZeneca: Performance, Products, Pipeline and Potential
Espicom Business Intelligence Ltd, Oct 2009, Pages: 172
Pharmaceutical company intelligence reports from Espicom provide a full review of the company's activities together with five-year sales forecasts for its key products. The company's financial performance is covered in-depth, from its latest results to a complete analysis of its latest full fiscal year and an outlook for the future. A section on company strategy covers mergers, acquisitions and divestitures, key agreements, products and R&D. An overview of key products and R&D is followed by a comprehensive review of the company's product portfolio and research and development pipeline by therapeutic area. In addition, supplementary appendices provide more in-depth information on financials, agreements and corporate events.
Executive Summary
On 6th April 1999, AstraZeneca was formed through the merger of Astra AB of Sweden and Zeneca Group PLC of the UK, propelling the company to second in the world in terms of pharmaceutical sales. Since the merger, AstraZeneca has maintained its position as one of the world's leading pharmaceutical companies having never left the top five companies in terms of pharmaceutical sales. Corporate headquarters are now based in London, UK; whilst R&D headquarters are in Sodertalje, Sweden.
Fiscal 2008 was a strong year for AstraZeneca, with growth recorded in revenue. This was achieved as a consequence of strong sales reported for AstraZeneca’s eleven key blockbuster products. Furthermore, AstraZeneca has invested over US$5 billion in R&D, in order to mitigate the major pipeline setbacks of fiscal 2006.
Firstly, in February 2006, AstraZeneca withdrew the recently-launched anticoagulant, Exanta, from the market. Due to poor patient safety data from clinical trials, which included an adverse-event report of serious liver injury. Not long afterwards, in May 2006, AstraZeneca discontinued its development programme for Galida, a treatment for glucose and lipid abnormalities associated with Type II diabetes. The company decided that the overall benefit/risk profile is unlikely to offer patients significant advantage over currently-available therapy. Perhaps the biggest set back was the discontinuation of NXY-059 in October 2006 due to disappointing clinical trial results. NXY-059 was novel treatment for stroke and had been estimated to achieve peak sales of US$3.8 billion.
With the R&D pipeline decreasing and lacking late-stage compounds, AstraZeneca adopted an aggressive acquisition strategy during 2006 and 2007, which has seen the company purchase several leading biotech companies with combined costs of nearly US$17 billion. The most important acquisitions have been of Cambridge Antibody Technology and MedImmune, which have bolstered the pipeline with an additional 14 candidate compounds. The purchase of MedImmune in particular has been significant to AstraZeneca, adding three new products to the company’s portfolio, including one blockbuster in Synagis. According to AstraZeneca, MedImmune has a a further 100 biologics in development. AstraZeneca has supplemented this acquisition activity with a number of research and licensing agreements. Consequently, in 2007, the company’s pipeline and product portfolio is good shape to maintain current growth rates.
AstraZeneca’s key products will remain Crestor and Seroquel, both of which are forecast sales remaining above US$3 billion by 2013, and both expected to challenge for leadership within their respective markets. The company’s gastrointestinal and oncology therapeutic areas are forecast to make increasingly diminished contributions to revenue due to patent expiries. However, growth is expected in AstraZeneca’s infection and respiratory/inflammation areas, which have been considerably expanded following the acquisition of MedImmune. Overall, it would seem AstraZeneca has overcome its setbacks in R&D and with its recently acquired companies, is well set to maintain its position as one of the top five global pharmaceutical companies in terms of revenue.
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