AstraZeneca
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| AstraZeneca | |
|---|---|
 | |
| Name | AstraZeneca plc |
| Type | Public limited company |
| Traded as | LSE: AZN, NASDAQ: AZN, OMX: AZN, FTSE 100 Index component |
| Foundation | 0 1999 (through merger of Astra AB and Zeneca Group) |
| Location | Cambridge, United Kingdom |
| Key people | Leif Johansson (Chairman), Pascal Soriot (CEO) |
| Industry | Pharmaceuticals, Biotechnology |
| Products | Pharmaceuticals, biologics |
| Revenue | ▲ US$45.8 billion (2023) |
| Operating income | ▲ US$8.7 billion (2023) |
| Net income | ▲ US$6.0 billion (2023) |
| Num employees | 89,600 (2023) |
| Homepage | astrazeneca.com |
AstraZeneca is a global biopharmaceutical company formed in 1999 by the merger of Swedish firm Astra AB and the British Zeneca Group. Headquartered in Cambridge, it is a constituent of the FTSE 100 Index and maintains listings on the London Stock Exchange and NASDAQ. The company focuses on the discovery, development, and commercialization of prescription medicines, with core therapeutic areas in oncology, cardiovascular, renal & metabolism, and respiratory & immunology.
History
The company's origins trace back to the 1913 founding of Astra AB in Södertälje and the 1993 demerger of ICI's pharmaceuticals business to create the Zeneca Group. The landmark merger was finalized in 1999, creating one of the world's largest pharmaceutical entities. Key historical developments include the 2005 acquisition of KuDOS Pharmaceuticals, bolstering its oncology pipeline, and the 2006 move of its global headquarters to Cambridge to leverage the Cambridge biomedical cluster. A significant shift occurred in the 2010s under CEO Pascal Soriot, who refocused the portfolio on three main therapy areas, leading to divestments such as the 2015 sale of its gastrointestinal unit to Takeda Pharmaceutical Company.
Products and research
The company's portfolio includes major blockbuster drugs such as the cancer therapies Tagrisso and Lynparza, the diabetes treatment Farxiga, and the asthma biologic Fasenra. Its research and development efforts are heavily concentrated in oncology, leveraging mechanisms like PARP inhibition and EGFR targeting, and in cardiovascular-renal-metabolic diseases. A pivotal moment was its rapid development, in partnership with the University of Oxford, of a COVID-19 vaccine during the COVID-19 pandemic, which was widely distributed globally. The company maintains numerous research hubs, including major centers in Cambridge, Gaithersburg, Maryland, and Gothenburg.
Corporate affairs
Operationally, the company is led by Chief Executive Pascal Soriot and Chairman Leif Johansson, with its corporate headquarters situated at the Cambridge Biomedical Campus. Its commercial operations are divided into two main units: BioPharmaceuticals and Oncology. The firm engages in extensive collaborations with academic institutions like the University of Cambridge and Karolinska Institutet, as well as with other companies such as Daiichi Sankyo on the drug Enhertu. It is a founding member of the ACT-Accelerator partnership coordinated by the World Health Organization.
Controversies and legal issues
The company has faced significant legal challenges, including a 2010 $520 million settlement with the U.S. Department of Justice over the marketing of the antipsychotic drug Seroquel. It has also been involved in numerous patent disputes, notably with generic drug manufacturers over products like Crestor. Its COVID-19 vaccine was subject to intense scrutiny regarding rare side effects like thrombosis with thrombocytopenia syndrome, leading to usage restrictions in some countries like Denmark and investigations by the European Medicines Agency. Further litigation has involved allegations of Medicare fraud in the United States.
Financial performance
For the 2023 fiscal year, the company reported total revenue of $45.8 billion, a 3% increase at constant exchange rates, driven by strong growth in its Oncology and BioPharmaceuticals divisions. Key growth products like Tagrisso, Farxiga, and Lynparza each delivered multi-billion-dollar annual revenues. The company invests heavily in research and development, with an R&D expenditure of approximately $10.9 billion in 2023. It is a consistently high-weight component of the FTSE 100 Index and its ADRs are actively traded on the NASDAQ.
Category:Pharmaceutical companies of the United Kingdom Category:Companies listed on the London Stock Exchange Category:Companies based in Cambridge Category:FTSE 100 Index