How Upcoming Mystic Data Will Be AstraZeneca PLC CEO's Biggest Test
LONDON – AstraZeneca PLC Chief Executive Pascal Soriot made a promise to investors three years ago as the Anglo-Swedish drug maker was fending off takeover advances from Pfizer Inc.: If left alone, AstraZeneca would nearly double its revenue within a decade.
Three years into that commitment, Dr. Soriot still has a long way to go to convince investors that walking away from Pfizer was the right call. A series of drug-test successes have lifted AstraZeneca shares this year, bringing them within range of Pfizer's 2014 offer price. But AstraZeneca has hit some headwinds, including unfavorable currency rates and disappointing results of an attempt to widen the use of one of its new drugs.
Three years into that commitment, Dr. Soriot still has a long way to go to convince investors that walking away from Pfizer was the right call. A series of drug-test successes have lifted AstraZeneca shares this year, bringing them within range of Pfizer's 2014 offer price. But AstraZeneca has hit some headwinds, including unfavorable currency rates and disappointing results of an attempt to widen the use of one of its new drugs.