AstraZeneca looking for more drugs

John Patterson, the head of development at AstraZeneca, has said that the firm is looking to expand its drugs portfolio.

Speaking at the Financial Times Global Pharma and Biotech conference, Mr Patterson stated that the firm’s current phase II portfolio is “too thin” due to current attrition rates, reports Reuters.

Commenting on AstraZeneca’s future plans, the head of development said that the firm is embarking on a “strategic move to access the big world of science out there”.

Mr Patterson added that for large developers and drug firms, in-licensing should never become a viable alternative to research and development, adding that by 2010, between 20 and 30 per cent of AstraZeneca’s portfolio would be made up from in-licensed products, reports AFX.

“But we’re not about to close down our labs and become a search and license operation,” he said.

The head of development is also reported as saying that skills in research and development should be maintained by larger firms to allow them to evaluate market opportunities.